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Volume 2014 - Number 19

May 16, 2014

Johnson-Crapo GSE Reform Bill Clears Senate Banking Committee But Is Expected to Stall Waiting for Floor Vote

The Senate Banking, Housing and Urban Affairs Committee voted 13-to-9 to report out a revised version of the controversial housing-finance reform legislation, but the billís tweaks werenít enough to win the support of the panelís liberal Democrat members. Committee Chairman Tim Johnson, D-SD, and Ranking Member Mike Crapo, R-ID, released their initial draft in March, which built upon the bill submitted last year by Sens. Bob Corker, R-TN, and Mark Warner, D-VA. Though the Housing Finance Reform and Taxpayer Protection Act of 2013, S. 1217, cleared committee with one more than the minimum 12 votes required, an affirmative vote of at least 16 of the 22 members of the panel had been seen...

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.

 

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