Regulators may get power to liquidate Freddie, Fannie

Critics fear changes could limit access to mortgages

Get smarter. Grow your referral network at Inman Connect San Francisco
Limited seating still available, July 17-20

The U.S. Senate banking committee today is set to mark up a draft bill that could give federal regulators the power to shut down Fannie Mac or Freddie Mac if either of them was in danger of insolvency.

The Republican-sponsored "Federal Housing Enterprise Regulatory Reform Act of 2004" would combine supervision of all so-called government-sponsored entities under one roof and make additional reforms in how Freddie Mac and Fannie Mae are regulated.