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The United States Housing and Economic Recovery Act of 2008 (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis.It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders wrote down principal loan balances to 90 percent of current appraisal value.
Biden appointed Landrieu and then-United States National Economic Council chief Brian Deese as the task force co-chairs. [133] [134] [135] In May 2022, the Biden administration published a manual on the use of the law, aimed mainly at local authorities. The manual briefly describes the over 350 programs included in the law.
Barack Obama sponsored 147 bills from January 4, 2005 until November 16, 2008. Two became law. [1] This figure does not include bills to which Obama contributed as cosponsor, such as the Coburn-Obama Federal Funding Accountability and Transparency Act of 2006 or the Lugar-Nunn Cooperative Proliferation Detection, Interdiction Assistance, and Conventional Threat Reduction Act of 2006.
The administration has not come up with a final plan for mortgage entities. President Barack Obama's administration may propose that any government backing of mortgages be funded by fees on ...
The Senate approved a slimmed-down, temporary government spending plan early Saturday morning, averting a shutdown of the federal government. The legislation now goes to President Joe Biden for ...
The Biden administration is expanding its crackdown on junk fees, this time setting its sights on the mortgage industry. The Consumer Financial Protection Bureau (CFPB) cited a particular concern ...
Chart of BLS job-loss data based on OFA's chart President Barack Obama and Vice President Joe Biden speak to state legislators about the implementation of the Recovery Act on March 20, 2009. The Congressional Budget Office reported in October 2009 the reasons for the changes in the 2008 and 2009 deficits, which were approximately $460 billion ...
The Biden Administration is seeking ways to help families make that happen with a number of new initiatives for first-time homebuyers. Neighborhood Homes Tax Credit Offers Down Payment Assistance ...