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(MANUEL BALCE CENETA/AP)

Farewell, Fannie? So long, Freddie?

It has been a long time coming, but the United States may finally have a mortgage reform blueprint. A bill introduced on Thursday would wind down Fannie Mae and Freddie Mac over five years and use a different vehicle and market-based pricing for Washington’s home loan guarantees.

The challenge is finding a plan that both Democrats and Republicans can stomach. The first attempt, from the House GOP, was a non-starter with Democrats. It largely privatized mortgage risk and, although that has proven workable elsewhere in the world, critics feared it would threaten home affordability in America.