This bill is working its way through the legislature.

As passed, the bill would wind down Fannie Mae and Freddie Mac within five years, replace them with a “public utility” to oversee the creation and maintenance of a single platform for the private sale of mortgages and end all federal guarantees. It also would reduce the mortgage insurance coverage provided by the Federal Housing Administration to only 50% of the mortgage being insured and re-target the FHA to serve first-time and low-income homebuyers.

ABA Dodd-Frank Tracker: House Panel Approves Hensarling Housing Bill.

What do you think the impact will be if this bill passes?