House to Vote Wednesday on GSE Reform

The House is scheduled to vote Wednesday on the GSE regulatory reform bill, and observers are waiting to see what kind of amendments Republican leaders will allow the lawmakers to vote on.It is understood that Reps. Scott Garrett, R-N.J., and Ed Royce, R-Calif., are preparing to file separate amendments that address the regulation of Fannie Mae's and Freddie Mac's mortgage portfolios. Rep. Garrett's amendment is expected to strengthen the regulator's hand in limiting the size of the portfolios. Observers are also waiting to see whether amendments are proposed to strike an increase in the Fannie/Freddie conforming loan limit (up to a maximum of $540,000 in high-cost areas) and to strike provisions that bar affordable housing fund recipients from engaging in lobbying and other political activities. The deadline for filing amendments is Tuesday at noon. The House Rules Committee meets at 4 p.m. Tuesday to decide which amendments will be considered during Wednesday's debate on the government-sponsored enterprise bill (H.R. 1461).