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To: goldsheet who wrote (50219)	3/9/2000 1:32:00 PM
From: long-gone	Respond to of 116816

OT(?) Anyone notice how AG is telling the banks to watch their loans? Is this really the time we need more building or more money loaned? Wednesday March 8, 5:07 pm Eastern Time Company Press Release SOURCE: U.S. Department of Housing and Urban Development HUD: President Requests Plan To Use Additional Funds Generated By FHA For Affordable Housing WASHINGTON, March 8 /PRNewswire/ -- Responding to a new report that says the Federal Housing Administration has generated additional funds beyond previous projections, President Clinton has requested recommendations on how to best use excess FHA revenues to expand the supply of affordable housing over the next five years. A report released Monday says the value of the FHA Insurance Fund for Fiscal Year 1999 was more than $5 billion above previous estimates. The White House today released a directive the President issued to Housing and Urban Development Secretary Andrew Cuomo, Office of Management and Budget Director Jack Lew, and Domestic Policy Council Director Bruce Reed requesting ``recommendations on how newly available funds can be used to further strengthen federal housing programs and develop a plan to enhance comprehensive affordable housing opportunities.' Recommendations could include subsidizing the construction of new affordable rental housing, downpayment assistance programs to increase homeownership, funding for new rental assistance vouchers, and other initiatives. ``One of the fundamental goals of my Administration has been to reinvent government, to make it serve the public better and restore public confidence in the institutions of government,' the President said in his directive. ``The Department of Housing and Urban Development has met these goals well. ... And as the improved administration of HUD and the FHA make available additional resources, we will have the opportunity to do even more to ensure that all Americans have access to affordable housing.' ``More than 5 million struggling American families are in desperate need of affordable housing,' Cuomo said. (cont) biz.yahoo.com