The Subcommittee on Capital Markets and the GSEs of the House Financial Services Committee has scheduled a July 12 mark-up of its latest series of bills to dismantle Fannie Mae and Freddie Mac. These bills were the subject of a hearing on May 25 (see Memo, 5/13 and 5/27).

A bill drafted by Representative Ed Royce (R-CA) that would eliminate the NHTF is expected to be one of the bills considered on July 12, although Mr. Royce has only circulated a draft of the bill and has not introduced anything yet.

The NHTF Campaign has asked Mr. Royce to withdraw the bill. If he declines to do so, supporters of the NHTF on the subcommittee are expected to offer an amendment that would decouple the NHTF from Fannie Mae and Freddie Mac, but leave the NHTF as a program intact.

Watch for a Call to Action concerning Mr. Royce’s bill in the coming week.