The chance of any housing finance reform bill moving in Congress this year—as well as in the foreseeable future—is now seriously in question after six key Democrats have apparently rejected the plan offered by Senate Banking Committee leaders.

The six lawmakers—whose support was crucial in getting broad backing for the legislation authored by committee Chairman Tim Johnson, D-S.D., and top Republican Mike Crapo, R-Idaho—were said to be on the fence. But now that they have reportedly given thumbs down for the plan, observers said the bill is likely doomed even if the committee passes it by a slimmer margin.

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