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・ Houston Agreement
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Housing and Economic Recovery Act of 2008
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Housing and Economic Recovery Act of 2008 : ウィキペディア英語版
Housing and Economic Recovery Act of 2008

The Housing and Economic Recovery Act of 2008 () (commonly referred to as HERA) was designed primarily to address the subprime mortgage crisis. It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders write-down principal loan balances to 90 percent of current appraisal value. It was intended to restore confidence in Fannie Mae and Freddie Mac by strengthening regulations and injecting capital into the two large U.S. suppliers of mortgage funding. States are authorized to refinance subprime loans using mortgage revenue bonds. Enactment of the Act led to the government conservatorship of Fannie Mae and Freddie Mac.
== Legislative history ==

The Act was passed by the United States Congress on July 24, 2008 and signed by President George W. Bush on July 30, 2008.

抄文引用元・出典: フリー百科事典『 ウィキペディア(Wikipedia)
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