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Veto talk on housing bill is premature

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WASHINGTON, D.C. -- U.S. Rep. Barney Frank, D-Mass., told an audience of Realtors today that it's too early to know whether President Bush will follow through with a threatened veto of housing legislation that seeks to aid troubled borrowers and make conforming loan limit increases permanent, among other provisions. The House, in a 266-154 vote earlier this month, passed legislation originally put forward by Frank that encompasses several pressing issues for the housing industry and economy, including tighter oversight of government-sponsored mortgage entities Fannie Mae and Freddie Mac. In an address during a National Association of Realtors conference today, Frank said the president's veto "is still an open question" as the bill is considered by the Senate. "No senator should be allowed to say, 'Oh well, he's going to veto it -- I'm not going to act," Frank said. "The Constitution says the president gets to veto the bill after we pass it, not th...