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Housing finance reform legislation passed the Senate Banking, Housing and Urban Affairs Committee on May 15 but its future is uncertain.

The Housing Finance Reform and Taxpayer Protection Act cleared by a 13-9 vote. Against it were Sens. Jack Reed (D-R.I.), Bob Menendez (D-N.J.), Sherrod Brown (D-Ohio), Jeff Merkley (D-Ore.), Chuck Schumer (D-N.Y.), Elizabeth Warren (D-Mass.), Richard Shelby (R-Ala.), Patrick Toomey (R-Pa.) and David Vitter (R-La.).

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