At this point in history, what other company, companies or entities want to take the place of FNMA? None. Nobody will step up to the plate and if banks are willing to guarantee mortgages like FNMA does, what happens during the next meltdown? As long as we give the banksters a lifeline against 'too big to fail', we have no future. As long as we guarantee bad behavior, incompetent business decisions, and rampant fraud, we are destined to boom/bust forever.
I think FNMA should be watched, but they need to continue to guarantee most of the mortgages written in the US.
Boca Raton, Miami Beach