Rep. Jeb Hensarling, R-Texas, has introduced legislation that would wind down or privatize Fannie Mae and Freddie Mac over the course of several years. "What we're trying to do is have a market-based system that doesn't put people into homes that ultimately they can't keep," or result in government rescues, Hensarling said. The Senate is not expected to take up the bill, which also could struggle to win passage in the House.

Related Summaries