Until now, Fannie Mae and Freddie Mac have been able to defeat all kinds of predictions regarding their failure. They have come out of trouble every time, and have succeeded in building their image as an eternal formulation.
But it is about time that their eternity may be coming to a halt. The two mortgage giants, who were once sponsored by the government, which now controls it, could really be facing their ends. The MBA wants to split up Fannie Mae and Freddie Mac, and it is possible if a functioning mortgage market is maintained without them.
