WASHINGTON — The dim prospects for a congressional overhaul of the housing finance structure are shifting attention to a host of questions about what the lack of reform means for the future of mortgage lending.

The Senate Banking Committee is poised to hold a markup Thursday on bipartisan legislation that would unwind Fannie Mae and Freddie Mac and replace them with a new mortgage securitization platform and explicit government backstop. Yet the bill is unlikely to move to the chamber floor this year. Meanwhile, a conservative House bill — that would avoid a backstop for the private mortgage market — has stalled.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.