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FHA

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Bill Expands FHA Commitment Authority by $85bn 

Jul 30, 2009By

The House of Representatives on Wednesday passed a bill that would grant emergency funds to the Federal Housing Administration’s (FHA) mortgage insurance commitment authority for fiscal year 2009, which ends in September. The bill, HR 3357, passed a 363-68 vote and expands FHA’s insurance authority 27% to $400bn from $315bn in order to cover an expected deficiency and to allow FHA to insure as many mortgages as are expected before the fiscal year-end.

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