HousingWire reports that while the House Financial Services Committee has proposed eight bills to revamp Fannie Mae and Freddie Mac, securities broker Keefe, Bruyette & Woods (KBW) say the legislation will do little to promote mortgages moving to the private sector from the GSEs (government sponsored enterprises). Instead it deals with executive compensation and fair housing goals, which are more oversight issues than fundamental change. One of the bills would cap the loan portfolios of Fannie and Freddie, reducing them year by year. Another would seek to end all goals for affordable housing set by the GSEs. KBW says there is political risk for some members of Congress pushing legislation that will have negative impact on housing problems in their districts.