"The Senate bill would provide for $4 billion in block grants to states to purchase already foreclosed homes, which just helps lenders who now own these properties, not people trying to stay in their homes," White House spokeswoman Dana Perino said on Friday.
"If this provision is in legislation that comes to the president's desk, he will veto it," she said.
The White House also opposes a Senate provision that would ban risk-based pricing for Federal Housing Administration loan insurance.
Perino praised the Senate bill for strengthening oversight and regulation of Fannie Mae and Freddie Mac, providing "a strong regulator that will ensure that the housing GSEs hold sufficient capital and are focused on their statutory housing mission."
"The Senate GSE oversight provisions must not be weakened," she said.
"If this provision is in legislation that comes to the president's desk, he will veto it," she said.
The White House also opposes a Senate provision that would ban risk-based pricing for Federal Housing Administration loan insurance.
Perino praised the Senate bill for strengthening oversight and regulation of Fannie Mae and Freddie Mac, providing "a strong regulator that will ensure that the housing GSEs hold sufficient capital and are focused on their statutory housing mission."
"The Senate GSE oversight provisions must not be weakened," she said.
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