Senate Raises Budget for Affordable Housing, Clamps Down on Risky Assistance Programs
October 27, 2005
The U.S. Senate last week voted overwhelmingly to add $2.9 billion to the Department of Housing and Urban Development’s FY 2006 budget, setting aside significant funding for critical housing needs and housing counseling assistance but doing little to spur FHA and Ginnie Mae businesses. Working off the budget proposals in H.R. 3058, which the House passed on a 405-18 vote on June 30, the Senate approved the bill 93-1 on Oct. 20. In addition…