U.S. bill to save the property market initially forming built 300 billion fund for the city

As the U.S. mortgage Wei Yueshuai the continued rise in the U.S. Congress to save the property market in the final package, expected in early July came to the surface. At present the Senate may propose the establishment of a value of 300 billion U.S. dollars in mortgage insurance fund, and the possible birth of a new regulatory body to manage the U.S. government supports enterprises Fannie Mae (FannieMae) and premises of the United States (FreddieMac). Reuters reported this week three, the U.S. Senate has passed a bipartisan bill to aid the property market, the full Senate is expected to be in a few days to discuss the bill, lawmakers may be on July 4 before a final bill Reference to the White House. Senate Finance Committee Chairman, Democrats Dodd, a senior Senate Banking Committee, Republican Shelby, both agreed. U.S. House of Representatives has passed a bill on the real estate market. Eventually submitted to U.S. President George W. Bush a bill may come from the Senate and the House of integrated programmes. According to the Fed funds flow data, the first quarter of this year, the U.S. mortgage lending continued to increase, the entire ring of real estate debt increased 120 billion U.S. dollars, so that the overall scale of up to 141,890 U.S. dollars a barrel. But the U.S. real estate loans accounted for the proportion of GDP remains at 100 percent level, and the fourth quarter of last year the same. The United States, loan-to-the outbreak of the crisis, the family real estate assets worth a second straight quarter of decline, down from 329 billion to 19.717 trillion U.S. dollars. Household debt ratio of the total value of housing rose 53.8 percent, set a record high. Residential mortgage debt of the United States the ratio of total debt over long-term trends, close to the record high of 35.9 percent. The Senate bill proposed the creation of a new mortgage insurance fund, from the U.S. Federal residential Authority, for up to 300 billion U.S. dollars of bad loans to provide guarantees. According to MBA data, the first quarter of this year mortgage loan market credit quality continues to deteriorate, the overall quality of the late repayment of loans from 3.24 percent to 3.71 percent, the secondary mortgage loans overdue repayment rate rose to 18.79 percent stimulated; more Seriously, the collateral loss of the right to redeem the proportion has also increased, the proportion of secondary mortgage loans from 8.65 percent stimulated rose to 10.74 percent, while high-quality loans from 0.96 percent to 1.22 percent. At the same time, the bill also proposed to the U.S. government supports enterprises Fannie Mae and premises of the United States to establish a new regulator. And for the two companies set up some new business. The bill will help the U.S. mortgage borrowers, while also establishing a nationwide mortgage broker licensing system.