What’s in the new federal law?

The federal government is finally taking aim at what it calls “low-income housing affordability,” which is defined as housing that costs more than a one-bedroom in most metropolitan areas, according to a document posted to the website of the White House.

The Department of Housing and Urban Development (HUD) released the document Wednesday as it tries to crack down on the “fraudulent mortgage origination scheme” that led to the collapse of one-third of all American mortgages.

The Obama administration wants to put a nationwide moratorium on mortgage originations, which was put in place in 2008 under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

The moratorium is in effect until April 15, 2020.

Housing officials have been trying to crackdown on the origination fraud for more than five years, with the Obama administration announcing last year that it had taken in $1.4 trillion from “fri fit” mortgages.

The administration is also seeking to make it a felony to falsify or make false claims about the borrower’s income and assets, and it is trying to make the federal government a lender of last resort.

HUD has taken in nearly $4.7 billion in federal mortgage funds since January 1, 2020, and is trying at least 10 other measures.

The department also has launched an investigation into mortgage fraud and is seeking more data from the Financial Institutions Registration and Clearing Corporation, or FINRA, to determine if there are any instances of the practice.

It’s unclear how much the moratorium would save, but it’s already a good start for the administration, which has been struggling to figure out how to get the American economy back on track.