The Senate Banking, Housing and Urban Affairs Committee voted 15-9 to advance Bill Pulte’s nomination to lead the Federal Housing Finance Agency (FHFA) to the full Senate.

Why it matters: FHFA oversees Fannie Mae, Freddie Mac and 11 federal home loan banks. Pulte will play a key role in any discussions around privatization of the GSEs.

What’s next: A full Senate vote will determine the outcome in the coming weeks.