WASHINGTON — Sen. Elizabeth Warren weighed in publicly for the first time on the substance of the housing finance reform debate on Tuesday, describing the elements she supports in a new system while stopping short of backing a specific plan.

The Massachusetts Democrat laid out a series of features the mortgage finance market should have, including a limited but explicit government guarantee, strong underwriting rules and servicer oversight, secondary market access for smaller institutions and provisions to ensure the system serves a diverse spectrum of borrowers.

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