Senate Banking Committee Members Rally Around Budget Amendment to Block Future GSE Guaranty Fee Offsets
March 28, 2013
Industry observers are lauding the passage of an amendment in the Senates proposed budget to curtail the use of Fannie Maes and Freddie Macs guaranty fees to pay for unrelated spending.By a vote of 50 to 49 last weekend, the Senate passed its fiscal 2014 budget resolution. An amendment making it more difficult to tap fees charged by the government-sponsored enterprises was offered by Senate Banking, Housing and Urban Affairs Committee Chairman Tim Johnson, D-SD, and Ranking Minority Member Mike Crapo, R-ID, and approved by unanimous consent.