Senate's housing finance overhaul could be slowed by government shutdown

Fannie and Freddie were taken under government control during the financial crisis more than five years ago. 

While a broad bipartisan deal has remained elusive momentum started to build this summer and into the fall before the shutdown turned the focus entirely to fiscal issues. 


About a month ago, Johnson and Crapo announced that they would undertake an "in-depth process with the goal of reaching agreement by the end of the year."

The panel has two hearings on the issue planned for next week — the government guarantee and affordability issues. 

Across the Capitol, the House Financial Services Committee approved a bill in July that dramatically reduces the government's mortgage guarantee limiting that support mostly to the Federal Housing Administration and a couple of other federal agencies. 

That bill has yet to gain any Democratic support and doesn't have the full backing of the House GOP, either.