The House is expected to vote Wednesday on a $300 billion omnibus housing bill that would authorize $4 billion of Community Development Block Grant funds for state and local governments to use to purchase, refurbish, or raze foreclosed properties.

The grants, one of several bond-related provisions in the bill, will likely be preserved in the legislation despite an initial White House veto threat, thanks to the demand for a quick resolution to the Fannie Mae and Freddie Mac dilemma.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.