Senate Democratic leaders want to force a vote on the bankruptcy cramdown issue this week even though they have not reached agreement on the cramdown provisions and it appears they don't have the votes to pass it.

The 41 Republican senators are united in opposition to cramdowns and observers expect at least six Democrats will vote against legislation that would allow bankruptcy judges to reduce or cramdown the principal amount of a residential mortgage to the fair market value.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.