Legislation to reform the government-sponsored enterprises is starting to appear in the Senate. Last week, Sen. Johnny Isakson, R-GA, introduced S. 1048, similar to the “Mortgage Finance Act” he introduced in 2011. The bill would revoke the charters of Fannie Mae and Freddie Mac upon resolution of their obligations and create a new Mortgage Finance Agency for securitization. Sens. Bob Corker, R-TN, and Mark Warner, D-VA, are also working on a bill that would replace Fannie and ... [Includes two briefs]