The Senate Banking Committee will vote Thursday on legislation to overhaul the housing finance system after abruptly postponing deliberations late last month.

The banking panel will consider legislation by Sens. Tim Johnson, D-S.D., the committee chairman, and Mike Crapo, R-Idaho, the ranking member, to unwind Fannie Mae and Freddie Mac and establish a new secondary market backed by an explicit guarantee in the case of catastrophic losses. Johnson and Crapo delayed the markup on April 29, citing ongoing efforts to bring additional lawmakers on board.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry