One of the big topics of debate in the mortgage industry this week is the Senate version of a housing bill designed to help ward off foreclosures and prevent future problems of this magnitude. The Senate housing bill includes:

*Increases in loan limits for Fannie Mae and Freddie Mac.
*Requirement for a national licensing system for mortgage lenders.
*New regulations for home loan approval (including better verifying that borrowers can afford the loan).

At first opposed to the regulations, many groups have come on board. However, many mortgage lenders are still requesting that the licensing requirement be dropped from the bill.