Bill to strengthen oversight of Freddie, Fannie stalls in Senate

A bill aimed at strengthening oversight of government-sponsored mortgage purchasers Freddie Mac and Fannie Mae is not expected to emerge from Congress before the November elections, and could be stripped of provisions that would require the lenders to cut their portfolios if Democrats regain control of the Senate.

James Lockhart, director of the Office of Federal Housing Enterprise Oversight, has been stumping for the bill this summer.

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