The White House today threatened to veto a sweeping housing bill that would package measures long sought by the Bush administration together with a $300 billion expansion of FHA loan guarantee programs the administration views as a bailout. At a press conference with Republican House leaders, Bush rejected a gambit by Democrats to bundle expansion of Federal Housing Administration loan guarantees programs with action on housing issues the administration has been stymied on for years -- including increased oversight of Fannie Mae and Freddie Mac and "modernization" of FHA loan programs through risk-based premium pricing. "We are committed to a good housing bill that will help folks stay in their house, as opposed to a housing bill that will reward speculators and l...
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