Legislation to overhaul the mortgage finance system is making its way through the Senate and likely could have enough support to pass.
A draft of a Senate bill has emerged that is the result of discussions between Sen. Bob Corker (R-Tennessee) and Sen. Mark Warner (D-Virginia).
The legislation would levy a "market access fee" on new loans to be used to help lower income borrowers rent or buy a home.
Source: Mortgage Daily
