WASHINGTON Sen. Elizabeth Warren, D-Mass., urged Banking Committee leaders Thursday to give the panel's members ample time to consider a pending bill to overhaul the housing finance system before bringing the legislation to a markup.
Committee Chairman Tim Johnson, D-S.D., and Mike Crapo, R-Idaho, the ranking member, announced an agreement earlier this week on legislation to wind down the government-sponsored enterprises Fannie Mae and Freddie Mac and replace them with a new government backstop for the secondary mortgage market. Legislative text for their plan, which is based on an earlier bill introduced last summer by Sens. Bob Corker, R-Tenn., and Mark Warner, D-Va., is expected to be released as early as Friday. The committee is reportedly aiming to bring the bill for a markup before the Senate departs for its spring recess on April 11.