Vote Description

Mortgage Bailout HR 3221 (Roll Call 519)

The House adopted Senate amendments vastly expanding the federal government’s authority to interfere in the national housing markets, allowing higher limits on risky loans and changing regulations on Fannie Mae and Freddie Mac. This version added another $4 billion grant program to be handed out by local governments. ACU opposes this interference in the housing market and further nationalization of the housing industry, but the bill was adopted July 23 by a vote of 272-152.33

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