Conservative group key-votes co-sponsorship of Hensarling’s housing bill

{mosads}The legislation, which was passed by the committee down a largely party-line vote, would liquidate Fannie Mae and Freddie Mac in five years, overhaul the Federal Housing Administration, and create a new non-government, nonprofit group to oversee the private-sector buying and selling of mortgages. It would also not provide a government guarantee of future mortgages, central to complaints from Democrats about the measure.

However, the measure faces an uncertain future going forward. If it is approved by the full House, it is highly unlikely it will be taken up in the Senate, where members are already working on bipartisan proposals of their own.