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H.R. 5830, the Frank-Dodd FHA Refinance Plan, Is Still the Wrong Policy for the Housing Mess
Publication Date: May 2008
Publisher(s): Heritage Foundation (Washington, D.C.)
Author(s): David C. John
Series: WebMemo
Topic: Banking and finance (Credit and loans)
Keywords: Economy; mortgages; subprime; bailout
Type: Brief
Coverage: United States
Abstract:
Chairman Barney Frank (D-MA) of the House Financial Services Committee has proposed H.R. 5830, which would use the Federal Housing Administration (FHA) to refinance at-risk mortgages at a lower interest rate in return for a cash fee.