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Health reform passes hurdle in Senate
U.S. courts and tribunals have separate set of rules
Hasan to stay in confinement till court-martial
Technology aims to keep drivers' attention on road
Wall Street finds profit in the mortgage mess
Palin attracts big crowds, rekindles campaign spirit
Historic health care bill nears key Senate vote
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Police accuse bank robbery suspect of gobbling up note (with dashcam video)
Dad accused of forcing son into field, killing him
Man found dead in North Akron home is identified
Victim of beating in Kent last week is declared dead at Akron hospital
Coventry man killed in crash at I-77 ramp
Browns' roster nearly devoid of consistent players
College student mistaken for deer, shot to death
NFL star Chris Spielman's wife loses cancer battle
Blogs:
Pets:
Cat-loving chihuahua suckles seven abandoned kittens
The Heldenfiles:
Friday Night Notebook
Patrick McManamon:
For your Saturday entertainment …
Akron Zips:
Hitchens leads Zips in second-half comeback
Tribe Matters:
Seven players added to Tribe’s 40-man roster
Cleveland Browns:
Holmgren expresses interest in Browns position
Kent State Sports:
Kent State blown out in second half, loses to Temple 47-13
Cleveland Cavaliers:
Gameblog: Cavs vs. Philadelphia 76ers
Buckeye Blogging:
OSU – Michigan college football rivals meet in Baghdad
Varsity Letters:
Four area football teams play tonight
All Da King's Men:
Headed For Disaster
Blog of Mass Destruction:
Will Health Care Reform Pass?
Akron Law Café:
Health Care Financing Reform: (69) The Brookings Institute Study on "Bending the Curve" – Four General Strategies
See Jane Style:
Vintage Chic
Car Chase:
TIME TO GET YOUR COLLECTOR CARS WINTERIZED
Let's Talk Real Estate:
Silverdome Potentially SOLD!
Ohio Travels with Betty:
George is looking for a Thanksgiving buffet in Akron.
Sound Check:
Steely Dan Plays "The Royal Scam" at E.J. Thomas Hall
HRLite House:
Colloquium at University of Akron
Akron Gamer:
Nintendo's Mario endures even as games come and go
House, Senate versions would expand FHA. Bush eases veto threat.
By Kevin G. Hall
McClatchy Newspapers
Published on Tuesday, May 20, 2008
WASHINGTON: The Senate Banking Committee today is expected to pass a bipartisan measure that creates a $300 billion loan-guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures.
A late-hour compromise, reached Monday, is expected to smooth its passage through the full Senate floor and on to President Bush.
The legislation is intended to help stop the nationwide freefall in home prices and the resulting flood of foreclosures. In the first three months of 2008, foreclosure filings totaled more than 649,000 homes, 112 percent more than in the first quarter of 2007.
''We've taken the word partisan out of this,'' Sen. Christopher Dodd, D-Conn., the committee chairman, said.
The House of Representatives has passed virtually identical legislation, and after greeting the House bill with strong opposition, the White House late Monday struck a more conciliatory tone.
''We look forward to seeing the details of the bill as it goes through Senate markup — especially provisions to expand programs of the Federal Housing Administration. We want to ensure that FHA expansion is done in a responsible and effective way,'' White House spokesman Tony Fratto said.
Like the House measure, the Senate bill would be voluntary. If a mortgage lender or loan-servicing company agreed to write down the balance on a distressed mortgage by 15 percent — based on the current market value of the loan, not the original value — the federal government would step in and guarantee the newly refinanced loan via the FHA.
There was no immediate response to the compromise from the Mortgage Bankers Association or other lender groups.
The new $500 million price tag would be funded by quasi-government mortgage bundlers Freddie Mac and Fannie Mae. Like the House legislation, Dodd's bill provides a new regulatory framework for the entities.
President Bush has for months called on Congress to pass tighter regulations of the government-backed mortgage giants.
WASHINGTON: The Senate Banking Committee today is expected to pass a bipartisan measure that creates a $300 billion loan-guarantee program to refinance distressed mortgages and slow a rising national tide of foreclosures.
Get the full article here.
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