Senate considers $300 billion FHA expansion plan

Dodd bringing bill to Senate Banking Committee

The fate of a plan to authorize the Federal Housing Administration to guarantee up to $300 billion in loans to help troubled borrowers refinance into more affordable mortgages could be decided Thursday by members of the Senate Banking Committee.

Committee Chairman Chris Dodd, D-Conn., has included his version of the FHA expansion approved by the House last week in his own bill, "The Federal Housing Finance Regulatory Reform Act of 2008."