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Publication Date: May 2008
Publisher: Heritage Foundation (Washington, D.C.)
Author(s): David C. John
Research Area: Banking and finance
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.