Federal Deposit Insurance Corporation

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Two Housing Bills Set to Become Law 

May 20, 2009By

[Update 1 reflects the official signing of the bills into law] The US House of Representatives kept itself busy this week, passing two pieces of housing legislation that might bear the President’s signature by the end of the day. Both measures look to crack down on fraud in the mortgage process, encourage sustainable mortgages and bolster the federal deposit insurance fund to protect depositors in the growing wake of bank failures. The House approved the Helping Families Save Their Homes Act in a 244-3 vote late Tuesday.

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