WASHINGTON — Rep. Jeb Hensarling, R-Texas, is set to unveil new mortgage finance reform legislation this month — an effort that has virtually no chance of becoming law this year, but which will help shape the housing debate going forward.

The chairman of the House Financial Services Committee is likely to take a far more conservative approach than Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., who introduced a bipartisan bill last month.

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