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Vote Description

Mortgage Bailout HR 3221 (Roll Call 96)

The Senate passed a bill providing for a taxpayer bailout of the mortgage entities Fannie Mae and Freddie Mac. A $4 billion trust fund was created allowing grants to ACORN and other activist organizations and requiring everyone in the mortgage industry to submit to a federal fingerprint registry. ACU opposed this vast expansion of federal involvement in the real estate industry, but the bill passed April 10, 2008 by a vote of 84-12.