There’s bipartisan support for a Senate bill that would replace mortgage giants Fannie Mae and Freddie Mac within five years with a federal mortgage insurer that would guarantee payments to investors in mortgage-backed securities — but only after a 10 percent private capital commitment has been exhausted, the Financial Times reports. That buffer would have prevented the need for a taxpayer bailout of Fannie and Freddie in 2008, the bill’s sponsors said. Source: ft.com.