U.S. Senate panel sets Thursday vote on housing bill

WASHINGTON Mon May 12, 2014 4:33pm EDT

WASHINGTON May 12 (Reuters) - The Senate Banking Committee plans to vote on a U.S. housing finance reform bill on Thursday in what could be the last effort this year to move forward with legislation to wind down mortgage firms Fannie Mae and Freddie Mac.

Sen. Tim Johnson, the Democrat who chairs the committee, and the panel's top Republican, Sen. Mike Crapo, had previously delayed a scheduled vote to build more support for the plan, which would create an industry-financed backstop for mortgages.

Johnson has said he and Crapo have the votes to push their bill through the committee, but sources have said an effort to secure more support from Democrats has fallen short. Because of that, it appears unlikely that Senate Majority Leader Harry Reid will allow the measure to come up for a vote on the Senate floor.

The committee said in a statement on Monday that the panel would meet to consider the legislation on Thursday at 10 a.m. (1400 GMT). (Reporting by Timothy Ahmann; Editing by Dan Grebler)

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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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