H.R. 5830 (FHA Housing Stabilization and Homeownership Retention Act) was passed on Thursday by the House Financial Services Committee by a vote of 46-21, with 10 Republican members voting for the bill. New York Times news story about bill passage is HERE. Primary feature of the bill is $300 Billion FHA program to help refinance loans for struggling homeowners.
Thomas summary of H.R 5830 is HERE, however bill version currently available does not include amendments made during Committee markup. If you want to see actual bill as passed by Committee, wait for day or so and look for a May 1st version of the bill.
Chair Frank has indicated that it was possible that the full House will vote on the bill as early as next week. Reconciliation with Senate legislation and signing by the President seem far less likely than eventual House passage.
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