House lawmakers this week overwhelmingly approved legislation that would essentially codify some of the measures already adopted by the Department of Housing and Urban Development to help strengthen the FHA Mutual Mortgage Insurance Fund as well as improve risk management and tighten oversight of FHA lenders and third-party originators. The long-awaited bill, the FHA Emergency Fiscal Solvency Act of 2012, passed by a vote of 402-7, nearly six months after it was voted out of the House Committee on Financial Services. Rep. Judy Biggert, R-IL, who chairs the Financial Services Subcommittee on Insurance, Housing and Community Opportunity, introduced the bill after her subcommittee approved an initial draft in early February. The MMI Fund has been below minimum capital reserve levels and is not projected...