House Passes GSE Reform Bill With Affordable Housing Fund; Portfolio Limits Remain Concern

摘要

The House passed government-sponsored enterprise (GSE) reform legislation (H.R. 1427) on May 22 after brushing aside additional efforts to weaken the affordable housing fund provisions in the bill. The vote on final passage was 313-104, reflecting the widespread support for a revised regulatory structure for the housing-related GSEs. The two most controversial elements of the legislation were the affordable housing fund and limits on the Fannie Mae-Freddie Mac mortgage portfolios. While the affordable housing fund question may have been settled, the portfolio issue remains a potential obstacle to final approval of the legislation.