Sen. Wayne Allard, R-Colo., has introduced a homestead bill that would give low-income Katrina victims title to vacant government land so they can build new homes."This legislation will help us begin to rebuild New Orleans and other areas destroyed by the hurricanes and flooding, providing a fresh start for families victimized by this tragedy," Sen. Allard said. The Bush administration supports the Allard bill, which would allow the Department of Housing and Urban Development to use foreclosed Federal Housing Administration properties for the new homesteading program. After removing the debris from the home sites, HUD and local governments would work with Habitat for Humanity, mortgage lenders, and other partners to help the homesteaders construct new homes. "President Bush and I believe that homesteading is an important part of a long-term recovery strategy for the Gulf Coast region," HUD Secretary Alphonso Jackson said.
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There's broad support for the effort to reduce costs and processes, but the Appraisal Institute warns about reducing property valuation quality control checks.
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Foundation had introduced Version 3 of its credit risk model, using the most recent delinquency data, to improve loan performance predictions.
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Fannie Mae's conservator is supporting the government-sponsored enterprise's test within certain boundaries, according to a recent social media post.
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The Senate Banking Committee is slated to consider Christopher Phelen to be the chair of the Council of Economic Advisers on Thursday. Phelen has said in past academic papers that fractional reserve banking is "highly problematic."
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The bureau said the move is intended to remove potentially confusing language with an upcoming revision to the Equal Credit Opportunity Act.
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