Industry NewsMarkets & Economy

Congress sends sweeping housing bill to president

Bush expected to OK backstop for Fannie, Freddie
Published on Jul 28, 2008

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by CareyBot

The Mortgage Bankers Association is calling a sweeping housing bill headed to President Bush's desk this week "the most important housing-related legislation in more than a generation."

But some critics say that although the legislation provides a much needed backstop to keep Fannie Mae and Freddie Mac's doors open, it will do little else to lessen the impact of the housing downturn.

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