Wednesday, December 12, 2007

FHA Reform Bill May See Movement This Week.

This AP story HERE reports that "Dr. No" is suggesting he may let the FHA bill come to a vote in the Senate later this week. However since his remaining objection is about the reverse mortgage provisions, my view is that "it won't be over till its over", because the reverse equity provisions are a MAJOR part of the bill.

Editorial Comment: I suspect that Senate filibusters, like the refusal to consider the FHA bill,will become a major campaign issue in the coming year, as will the need to have 60 Senate votes to break such filibusters, which can start with just ONE Senator refusing to allow Senate consideration.

1 comment:

  1. I beleive Coburn's issue is with the fact that there is no cap on the number of reverse mortgages (HECMs)that can be originated. It does not sound like a deal breaker. Also Dole has an issue on risked based pricing. Again not a deal breaker. Hopefully full Senate vote before end of week.

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