Rubbish. Fannie Me provides no mortgages to anybody. A GSE does not originate any mortgages, nor has it ever. Fannie buys up the bank paper and resells it as MBS with an implied backing of the government.
Most of the people that "qualified" for loans before the bubble burst really couldn't afford them in the first place. And what was the scam of sub-prime loans continues in different dress, today, with conveyances like HART that aren't much better.
Releasing the GSEs and changing nothing else is an express train to another housing collapse and recession-or-worse.
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