WASHINGTON, Feb 4 (Reuters) - A U.S. House of Representatives panel backed legislation that would overhaul a $300-billion federal mortgage guarantee fund that was meant to help struggling homeowners avoid foreclosure, but has failed to catch on.
The legislation will likely be considered by the House floor next week, Frank said.
'There have been a series of trials and errors here,' Frank told the House Financial Services Committee, about the effort to fix the housing assistance program.
(Reporting by Karey Wutkowski; Editing by Bernard Orr) Keywords: FINANCIAL RESCUE/HOMEOWNERS (karey.wutkowski@thomsonreuters.com, + 1 202 898 8399) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The legislation will likely be considered by the House floor next week, Frank said.
'There have been a series of trials and errors here,' Frank told the House Financial Services Committee, about the effort to fix the housing assistance program.
(Reporting by Karey Wutkowski; Editing by Bernard Orr) Keywords: FINANCIAL RESCUE/HOMEOWNERS (karey.wutkowski@thomsonreuters.com, + 1 202 898 8399) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.