House panel chief plans May vote on Fannie Freddie

WASHINGTON, March 31 (Reuters) – The House Financial
Services Committee plans to vote in early May on a bill to
wind-down Fannie Mae (FNMA.OB: Quote, Profile, Research) and Freddie Mac (FMCC.OB: Quote, Profile, Research),
Representative Spencer Bachus, the panel’s chair, said on
Thursday.

That move would mark another shift in strategy among House
Republicans about what to do with the two largest providers of
funding for the $10.6 trillion U.S. residential mortgage
market.

House Repubicans earlier this week introduced a series of
more targeted measures aimed at reducing the influence of the
two firms without shutting them down entirely.

“We may let the other bills catch up … but there is no
reason not to vote on the comprehensive bill,” Bachus told
Reuters.

(Reporting by Corbett B. Daly)

House panel chief plans May vote on Fannie Freddie