House of Representatives

GSE and FHA Conforming Loan Limits Extension Bill

On July 15, Representatives Campbell (R-CA) and Ackerman (D-NY) introduced a bill to the House of Representatives that would extend the 2008 levels of the GSE and FHA conforming loan limits through fiscal year 2013. The limits are scheduled to adjust downward this fall from $729,750 to $625,500 in compliance with the Housing and Economic Recovery Act of 2008. The bill has been referred to the House Committee on Financial Services. House Bill.

House Passes Financial Regulation Bill

On December 11, the House of Representatives approved the Wall Street Reform and Consumer Protection Act of 2009, a plan to significantly tighten federal regulation of the financial sector. Among other things, the plan creates a new agency to oversee consumer lending, establishes new rules for transactions that contributed to the meltdown, and seeks to reduce the threat that one or two huge companies on the verge of collapse could bring down the economy. House Financial Services Committee Release.  Wall Street Reform and Consumer Protection Act of 2009 (HR 4173).