Moving even more swiftly than expected the Senate has cleared an omnibus housing bill and sent it along to the White House for the President's signature.

Among other things, the "American Homeownership and Economic Opportunity Act" grants local housing officials the authority to allow families receiving federal rental assistance to aggregate up to a year's worth of aid for use towards the downpayment and closing costs in buying a house instead of renting.

Recent studies have shown that downpayment costs are among the most significant barriers to homeownership. Three million families receive federal rental assistance under the Department of Housing and Urban Development's Section 8 voucher program.

The idea is based on a successful test project in the home district of Rep. Rick Lazio, R-N.Y., who authored many of the bill's provisions.

"More and more families across the country will now have a fighting chance to realize the American dream of owning a home," said Rep. Lazio, who gave up his House seat to run unsuccessfully for the Senate. But he may remain in Washington, perhaps as the new HUD secretary should George W. Bush actually become President.

The bill also includes provisions that will boost the construction and financing of more housing for elderly Americans and individuals with disabilities. And it provides additional housing opportunities for residents of rural America, Native Americans and Native Hawaiians.

In addition, it updates the federal manufactured housing regulatory regime to improve consumer protection and safety. Currently, more than 20 million people about 8 percent of the population reside full-time in more than 8 million manufactured houses.

Formerly known as trailers and mobile homes, manufactured houses are the only ones built to a federal building code, and the bill ensures that the rules, some of which are 25 years old, are updated on a regular basis. It also establishes a dispute resolution program so that buyers are not caught in the middle when manufacturers, retailers and installers blame each other for problems.

The measure passed the House by voice vote only last Tuesday. But then, it's been hanging around since April when the House first approved an even more sweeping bill. Actually, to be technical, it is the culmination of three and a half years of discussions with consumers, housing and industry advocates, and public policy makers.