The bill, unveiled by Chairman Tim Johnson (D-South Dakota) and Ranking Member Mike Crapo (R-Idaho) earlier in the month, includes a number of bipartisan proposals from the committee intended to strengthen the FHA’s financial situation, protect taxpayers, and ensure qualified borrowers still have access to credit.
The bill passed by a vote of 21-1, according to a release from the committee’s website.
“This was a bipartisan effort from start to finish,” Johnson said. “The reforms we approved today are the product of a lot of hard work from members on both sides of the aisle, and I appreciate the spirit of bipartisanship and open debate that my colleagues on the Committee demonstrated throughout the amendment process.”
Since its launch, DS News magazine has positioned itself at the forefront of an
evolving industry. Always current with the most up-to-date
default servicing news, DSNews.com keeps you informed through daily Web casts,
community forums, and a wide range of industry resources.