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The Senate Banking Committee is said to be moving toward a vote on major housing finance reform legislation next week, but the effort is likely to attract no more than 13 votes, falling short of what would be needed to advance the bill to the Senate floor this year.
May 9 -
The Senate Banking Committee continued negotiations over the weekend on landmark legislation to overhaul the mortgage finance system, but it still remains unclear when, or if, panel leaders will reschedule a key vote on the bill.
May 5 -
The Senate Banking Committee has forged a strong bipartisan agreement to reform the housing finance market, but how and whether that effort gets picked up in 2015 is still very much in question.
March 14
WASHINGTON The Senate Banking Committee will vote Thursday on legislation to overhaul the housing finance system after abruptly postponing deliberations late last month.
The banking panel will consider legislation by Sens. Tim Johnson, D-S.D., the committee chairman, and Mike Crapo, R-Idaho, the ranking member, to unwind Fannie Mae and Freddie Mac and establish a new secondary market backed by an explicit guarantee in the case of catastrophic losses. Johnson and Crapo delayed the markup on April 29, citing ongoing efforts to bring additional lawmakers on board.
The plan, which draws on earlier work by Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., is expected to have enough support to pass out of the committee, but is not likely to gain the momentum needed to make it to the chamber floor this year. News broke last week that many of the uncommitted Democrats on the panel will not support the measure, despite the additional weeks of negotiations.