The Senate bill will go to the House, and, if it passes, on to President Obama’s desk-where he is likely to sign it into law.

The Federal Housing Finance Agency (FHFA) issued an update to their Common Securitization Platform (CSP) on Tuesday outlining the progress that as been made in developing a new infrastructure for the securitization of single-family mortgages by Fannie Mae and Freddie Mac.

The increases reignited a debate over appropriate executive compensation at Fannie Mae and Freddie Mac, which have operated under a conservatorship overseen by the FHFA since they were seized by the federal government during the 2008 credit crisis. This analysis is further described in our U.S. RMBS Rating Methodology. The moves would help the companies compete for talent with the private sector, according to reports.

A spokesman in Royce’s office said in an emailed statement that while timing on a vote in the House had not been decided, movement on the issue has been “lightning fast”. She also co-authored All the Devils are Here: The Hidden History of the Financial Crisis along with New York Times columnist Joe Nocera.

In 2011, headlines blared and lawmakers raised alarms over the big paydays top executives at the two mortgage giants had received in 2009 and 2010. The pay could have ranged as high as $7.26 million per year, or the 25th percentile of the market. To participate, all potential bidders are required to be approved by Freddie Mac to access the secure data room containing information about the NPLs and to bid on the NPL pool. The salaries, which were capped in 2012, were boosted to $4 million each per year, closer to their historic levels.

Ackman, the largest shareholder of Fannie and Freddie, and other investors are suing the U.S. government for taking property for public use without just compensation.

The focus on the CEOs’ pay misses the point, she said. “That means removing the obstacles and starting a bipartisan effort to take on housing finance reform this Congress. I am pleased to have the opportunity to work with Senators Corker, Warner, and Vitter, and I look forward to collaborating with them and other Senators in the months ahead on this important issue”, said Warren. She added that Fannie and Freddie executives have historically been richly rewarded, turning the companies into political footballs. “It’s what these organizations are supposed to be”.