[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/images/07/30/art.bush1.ap.jpg caption="President Bush has signed the housing bill."]NEW YORK (CNNMoney.com) - President Bush on Wednesday signed into law a sweeping housing bill that aims to boost the struggling housing market and bolster mortgage finance giants Fannie Mae and Freddie Mac.
The Senate voted 72-13 in favor of the bill on Saturday, after the House passed it three days earlier.
"We look forward to put in place new authorities to improve confidence and stability in markets, and to provide better oversight for Fannie Mae and Freddie Mac," said White House spokesman Tony Fratto. "The Federal Housing Administration will begin to implement new policies intended to keep more deserving American families in their homes."