He's been trying to reach a deal on the bill with Richard Shelby (R-Ala.), the top Republican on the panel.
Here's the full statement:
"Senator Shelby and I are very close to reaching an agreement on this important piece of legislation, and are working with each other and other members of the Committee to resolve the few differences that remain. All members of the Committee should be a part of this process, and I want to give my colleagues the opportunity and time to review the legislation. This bill contains two major initiatives to reform the GSEs and to help prevent foreclosures, and has the potential to make a significant difference in the lives of many Americans. I am optimistic we will have a bipartisan bill to present to the rest of our colleagues on the floor of the United States Senate. I look forward to reconvening the Committee next week to further consider this important measure."