Republican leaders on the House Financial Services Committee are coming under strong criticism for taking a piecemeal approach to winding down Fannie Mae and Freddie Mac while ignoring several comprehensive GSE reform bills that address the future of the housing finance system.

At a markup Tuesday, Rep. John Campbell, R-Calif., said it is a "mistake" for the GSE subcommittee to vote on six bills that would, among other things, prohibit a reduction of the 10% dividend Fannie and Freddie pay on $150 billion of borrowings from the Treasury, and eliminate their government charter if they end up in receivership.

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