Fannie Mae-No Politics (FNMA)

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I like this article: http://thehill.com/blogs/on-the-money/1091-housing/315637-obama-set-to-take-up-housing-in-phoenix

"The idea is that in a new system, the "government should continue to provide robust, explicit, and targeted support to help ensure access to affordable and sustainable mortgage products for low-wealth, first-time homebuyers and borrowers in historically underserved communities."
That includes the government ensuring a deep and liquid financing market for the development and rehabilitation of multifamily housing.

Obama also will suggest non-legislative steps to start a gradual transition to the new system and to facilitate the wind down of Fannie and Freddie by decreasing investment portfolios by 15 percent a year, knocking them down to a manageable balance by 2018...

...That plan includes streamlining refinancing for borrowers with government-insured mortgages, waiving closing costs for borrowers who refinance into shorter-term loans to more rapidly rebuild equity, while expanding eligibility to borrowers who do not have government-backed mortgages by creating special programs through the FHA and Fannie and Freddie."


If you believe the context of this article, FnF may get smaller over time but they're not going anywhere. A 15% per year reduction from their current estimated net worth over 5 years, still leaves them as a $1 trillion company.