Industry trade groups are urging Senate leaders to pass a stand-alone Federal Housing Administration reform bill (H.R. 5072) before they adjourn on August 7 for a month-long recess.

Ten trade groups, along with the U.S. Conference of Mayors, claim passage of the measure is needed to replenish the capital reserves of the FHA mortgage insurance fund that have "fallen dramatically" due to loan defaults and foreclosures.

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