After hours of procedural debate on Saturday afternoon, followed by a marathon overnight “vote-a-rama” (a series of amendment votes – none of which pertained directly to real estate finance), the Senate on Sunday passed an amendment in the nature of a substitute to H.R. 5376, now known as the Inflation Reduction Act, by a 51-50 vote (Vice President Kamala Harris breaking the tie).
Tag: Sen. Kyrsten Sinema D-Ariz.
MBA, Trade Groups Reiterate Opposition to G-Fee Offsets
Fresh off of last week’s regulatory victory in which the Federal Housing Finance Agency withdrew its controversial adverse market refinance fee, the Mortgage Bankers Association and several dozen industry trade groups took fresh aim at another controversial practice—a move in Congress to use the government-sponsored enterprises’ guaranty fees—known as “g-fees”—to offset funding for non-housing programs.