The Senate has approved $3.5 billion for rental vouchers that could be used by an estimated 350,000 families displaced by Hurricane Katrina to pay for housing anywhere in the United States.There would be no income limits on the temporary housing voucher program administered by the Department of Housing and Urban Development. And it would cover rents of up to 150% of HUD's area payment standard for one year. Once a family member returns to work, they would contribute 30% of their income toward rental payments, as in the regular housing voucher program. "These temporary rental vouchers would quickly and efficiently move families into stable housing across the country in the communities to which they have been relocated," said Sen. Paul Sarbanes, D-Md., who sponsored the amendment. The Senate approved the Sarbanes amendment by unanimous vote and attached it to the Commerce/Justice appropriations bill. The House has not passed a similar provision. It is unclear whether the Bush administration will support the concept of temporary vouchers, but there is much concern about crowding too many families into temporary trailer parks. Meanwhile, HUD and the Federal Emergency Management Agency are using vacant public housing and federally subsidized apartments to house Katrina victims, as well as cruise ships.
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A federal judge ruled that acting Consumer Financial Protection Bureau director Russell Vought unlawfully refused to request agency funding from the Federal Reserve Board, dealing a procedural blow to a legal argument that the Fed can only fund the CFPB when it turns a profit.
March 15 -
A White House executive order issued Friday afternoon directing regulators to ease Dodd-Frank compliance burdens comes as a bipartisan housing bill advances on Capitol Hill.
March 13 -
A federal judge wrote in an opinion that a "mountain of evidence" suggests the subpoenas were an effort to push Federal Reserve Chair Jerome Powell to lower interest rates or resign.
March 13 -
The Supreme Court heard arguments in a case revolving around whether a county violated the rights of a homeowner whose home was foreclosed on for owing taxes.
March 13 -
Borrower equity fell $78.8 billion, or 0.5%, year over year in Q4, according to Cotality's Home Equity Report. That's an average decrease of $8,500.
March 13 -
Lennar's first fiscal quarter earnings were down by more than half after three years of persistent trials which are testing consumer confidence and sentiment.
March 13










