The U.S. House of Representatives passed a measure on May 7 calling for a study of the availability of property insurance for homes where Chinese drywall is present.
The bipartisan measure was part of an amendment to the Mortgage Reform and Anti-Predatory Lending Act introduced by Rep. Robert Wexler, D-Fla., and Rep. Mario Diaz-Balart, R.-Fla. The entire legislation–H.R. 1728–including the amendment, passed by a 300-114 vote.
The amendment calls for the secretary of Housing and Urban Development, in consultation with the Treasury secretary, to conduct a study of the effect of the presence of contaminated Chinese drywall on residential mortgage loan foreclosures.
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