Fannie Mae-No Politics (FNMA)

[BaGr]

I don't think that is the reason. I think they do not want shareholders making money on a company when they are taking all the risk. Why not go after FMHA/USDA Single Family Loan Program.

Single Family Housing Direct Home Loans

What does this program do?
Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.

http://www.rd.usda.gov/programs-services/single-family-housing-direct-home-loans

Single Family Housing Guaranteed Loan Program

What does this program do?
This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible rural homebuyers.

http://www.rd.usda.gov/programs-services/single-family-housing-guaranteed-loan-program

These are very successful programs but they are a lot more like what your are describing.

Most of these people believe F&F are companies making tons of money while assuming no risk. It is the tax payer backing these loans not the owners of these companies.