Bulletin: Debate On FHA Reform Ends In Senate
by Peter G. Miller
July 25th, 2008
July 25th, 2008
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FHALoanPros.com, our sister site, reports that the Senate has closed off additional debate on the FHA modernization bill that was earlier approved by the House. The vote for cloture was 80-13.
What this means: The Senate will now vote on the full bill. This could happen later today, Friday, but there could be some delay which would result in a Saturday vote. (The reason to push for a Friday vote is so that Senators can return to their states for weekend politicking.)
Once past the Senate the measure will then go to the President. The White House has said that the President — who consistently opposed the measure and threatened a veto — would now sign the package.
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