The U.S. Senate on July 11 approved omnibus housing legislation requiring, among other things, earlier Truth in Lending Act disclosures to consumers to help facilitate shopping for the mortgage loan that would best fit their financial needs. H.R. 3221, the Foreclosure Prevention Act of 2008, passed on a 63-5 vote following weeks of debate, procedural hitches and a veto threat...
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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