The story

A bill meant to help homeowners caught up in the spreading mortgage crisis received committee approval Thursday after Democrats fended off numerous Republican challenges to the bill.

The bill would authorize the Federal Housing Administration to guarantee up to $300 billion in new mortgages offered by government-approved private lenders.

House Financial Services Committee passed the bill on a vote of 42 to 21. The full House is expected to take up the measure next week, committee aides said. Read full article »

CNN's Lesa Jansen contributed to this report.

All About U.S. House Committee on Financial Services • Economic Issues • Federal Housing Authority