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Home | News | Government | FHA Solvency Act Passes Out of Senate Banking Committee
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FHA Solvency Act Passes Out of Senate Banking Committee

The ""Federal Housing Administration (FHA) Solvency Act of 2013"": (S. 1376) is headed to the Senate after receiving approval from the ""Committee on Banking, Housing, and Urban Affairs"":


The bill, unveiled by Chairman ""Tim Johnson"": (D-South Dakota) and Ranking Member ""Mike Crapo"": (R-Idaho) earlier in the month, includes a number of bipartisan proposals from the committee intended to strengthen the FHA's financial situation, protect taxpayers, and ensure qualified borrowers still have access to credit.

The bill passed by a vote of 21-1, according to a release from the committee's website.

""This was a bipartisan effort from start to finish,"" Johnson said. ""The reforms we approved today are the product of a lot of hard work from members on both sides of the aisle, and I appreciate the spirit of bipartisanship and open debate that my colleagues on the Committee demonstrated throughout the amendment process.""

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