JOHNSON AND CRAPO REACH AGREEMENT ON BIPARTISAN FHA SOLVENCY BILL

WASHINGTON – Today, Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) released the following statement announcing they have reached a bipartisan agreement on legislation to ensure the solvency of the Federal Housing Administration.

 

“Earlier this year, we agreed that the Committee would first address the issues facing the solvency of FHA before turning to comprehensive housing finance reform legislation.  After months of hard work we have reached bipartisan agreement on a path forward to give the FHA the tools it needs to get back on stable footing.  We are in the process of finalizing the text of our bipartisan bill and plan to release details publicly next week.  We believe we have found solid common ground and are optimistic that we will be able to move this bipartisan legislation forward expeditiously.”