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OmniHome Financing moves into expanded HQ

National Mortgage Professional
Aug 07, 2008

Statement by National Housing Conference president and CEO Conrad Egan on HR 3221MortgagePress.comNational Housing Conference, HR 3221, Conrad Egan, Housing and Economy Recovery Act, GSEs "Today the comprehensive Housing and Economy Recovery Act was signed into law by President Bush after being passed with bi-partisan support in the U.S. Senate and House of Representatives last week. This new law will usher in much needed relief for the current foreclosure crisis and is critically important to helping keep families that are at-risk for foreclosure in their homes. "In addition, the nearly $4 billion in emergency neighborhood stabilization funding provided will help ensure that communities with high foreclosure rates are able to recapture their former strength and vitality. [National Housing Conference] NHC, along with its members and partners across the nation, has worked hard to ensure passage of the housing bill, and, in particular, the neighborhood stabilization funding funding that faced a distinct and sustained veto threat by the Administration. "NHC is also pleased that the regulations extend support to Fannie Mae and Freddie Mac, support that will ensure that the agencies continue to play a critical role in the U.S. housing market and its recovery. Fannie and Freddie have long helped maintain affordable housing for America's families, in both the single-family market and the multi-family housing finance system, with approximately $5 trillion in mortgages currently being held or guaranteed by them. We look forward to working with the U.S. Department of Housing and Urban Development on the swift implementation of these regulations. Any delay would mean more families facing foreclosure, further unnecessary neighborhood deterioration and continued negative consequences for the economy." For more information, visit www.nhc.org.
Published
Aug 07, 2008
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