Senate Panel to Vote on Housing-Rescue Plan

Wall Street Journal (05/13/08) P. A2
The Senate Banking Committee has scheduled a May 15 vote on a housing-rescue plan proposed by Committee Chairman Christopher Dodd, D-Conn. The measure would permit $300 billion in mortgages to be refinanced through the FHA and would establish a new regulator for Fannie Mae, Freddie Mac and the Federal Home Loan Banks. While similar to a bill recently approved by the House, Democrats and Republicans have yet to negotiate a bipartisan deal.