This bill has been covered on this forum in great detail.
The Corker-Warner Senate bill did not make it out of committee and is now being revamped and replaced with a new Senate bill being drafted by Johnson and Crapo. Corker and Warner are fighting to keep it alive and with gradual reductions in support because there are many inadequacies that have been pointed out since the bill was first proposed. The two Senators have been irked by this and their nerves are now frayed and are seen behaving badly in public in response to any show of direct opposition to their plan.
Chairman Tim Johnson and Ranking Member Mike Crapo of the Senate Committee on Banking, Housing & Urban Affairs have been holding hearings and gathering testimony from experts and industry leaders on GSE and Housing Finance Reform since July to aid in the formation of their bill.
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