Losing Fannie Mae And Freddie Mac Could Kill The 30 Year Mortgage

Thirty year mortgages could be a thing of the past, as multiple bills would dismantle the guarantees that make them possible. Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC), the controversial home loan guarantors would be phased out and replaced with private options, or not replaced at all. Obama to wind down Fannie Mae and Freddie Mac President Barack Obama has signaled that he mostly agrees with the Housing Finance Reform and Taxpayer Protection Act, better known as the Corker-Warner Plan, and that he would like to wind down Fannie Mae /…