Congress sends sweeping housing bill to president
Bush expected to OK backstop for Fannie, Freddie
By Matt Carter, Monday, July 28, 2008.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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