Fannie Mae And Freddie Mac: Senate Banking Leaders Reach Deal

US Senators Tim Johnson (D., S.D.) and Mike Crapo (R., Idaho) have made a new proposal for reforming the US mortgage industry that falls in line with last year’s proposal from Bob Corker (R., Tenn.) and Mark Warner (D., Va.), but getting bipartisan support will be a major problem, reports Nick Timiraos for The Wall Street Journal. The proposal would set up a system of private companies that release a common security, much like Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) currently sell securitized mortgages under the…