Treasury Secretary Timothy Geithner said on Wednesday that the United States was far behind on reforming the country's housing finance system where the government's mortgage buyers Fannie Mae and Freddie Mac provide funding for the bulk of U.S. home loans.

The biggest source of unfinished business in the financial reform effort is in the housing finance area, Geithner told the Chicago Economic Club in Chicago.

Geithner said he saw early signs of bipartisan consensus for reforming the housing finance market.

(Reporting by Rachelle Younglai; Editing by James Dalgleish)