A bill creating a new regulator for Fannie Mae and Freddie Mac and setting capital levels for the two home mortgage giants could be ready for a House vote by the end of the month.
Reports are that a compromise has been reached over funding to aid victims of Hurricane Katrina. The deal ensures that portions of both companies' after-tax profits will go into a fund to be used only for affordable, low-income housing projects, not lobbying or other political activities. Supporters of the fund have estimated it could reach $1 billion in two years.
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