Senators reach deal on housing rescue: sources (Reuters) Posted on May 16th
Under the deal reached by Dodd and Shelby, Fannie Mae and
Freddie Mac would direct money from a new affordable housing
fund to backstop the mortgage insurance fund. The sources said
that in the first year, 100 percent of their contributions
would go to the new FHA program. That would fall to 75 percent
in the second year and 50 percent in the third.
Trackback URL