X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

WASHINGTON – With thousands of people in New Orleans, Mississippi and Alabama facing long-term housing needs as a result of the devastation from Hurricane Katrina, House Financial Services Committee Chairman Michael Oxley (R-Ohio) and House Capital Markets Subcommittee Chairman Richard Baker (R-La.) announced on Sept. 14 they will adjust an affordable housing fund in pending GSE reform legislation to meet residents’ affordable housing needs. The change would mean that affordable housing in areas affected by Katrina would receive priority consideration, including the actual disaster area and areas where survivors are staying. Areas impacted by disasters in the future would receive similar priority consideration. The Federal Housing Financial Reform Act of 2005, H.R. 1461, which includes a provision for creating the affordable housing fund, was already passed by the Financial Services Committee on May 25. The legislation is designed to strengthen the regulation of the housing Government Sponsored Enterprises and create an independent regulator for the GSEs – Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.