WASHINGTON — A bipartisan group of senators led by Sen. Bob Corker, R-Tenn., is drafting legislation designed to reform the housing finance system, including a plan to wind down the government-sponsored enterprises.

The proposal has been deemed by some as an "ambitious solution" to Fannie Mae and Freddie Mac, which were seized by the government in September 2008, and is widely expected to mirror a recent proposal aired by Edward DeMarco, acting director of the Federal Housing Finance Agency.

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