Follow up to Senate Passes American Housing Rescue and Foreclosure Prevention Act of 2008, from the White House July 30, 2008 as the President signed the bill: “The Housing and Economic Recovery Act of 2008, which authorizes the Department of the Treasury to purchase obligations of housing Government Sponsored Enterprises (GSEs); reforms the regulatory supervision of the housing GSEs; provides reform of the Federal Housing Administration; provides homeownership assistance and reforms to mitigate recent increases in foreclosures; and contains housing-related tax incentives and other tax provisions.”