The Johnson-Crapo bill to overhaul the U.S. housing finance market has bipartisan support, but policy experts within those ranks differ on how the proposal can be improved.

The proposal would wind down Fannie Mae and Freddie Mac and replace them with a new guarantor to backstop mortgage-backed securities. A key point of contention is the 10 basis point user fee that the proposed Federal Mortgage Insurance Corp. would charge to support the affordable housing efforts of the National Housing Trust, Capital Magnet, and Market Access funds.

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