7/16/2013

Sens. Tim Johnson, D-S.D., and Mike Crapo, R-Idaho, unveiled a plan Monday designed to steady the finances of the Federal Housing Administration. Details in the discussion draft included stronger underwriting standards, better lender accountability and an overhaul of the reverse-mortgage program. Johnson, chairman of the Senate banking committee, has said the panel will prioritize an FHA bill before working on changes to Fannie Mae and Freddie Mac.

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