Obama Admin Wants to Get Out of Mortgage Business...In Five Years or So

The FHA, Fannie Mae, and Freddie Mac now own or guarantee 90+% of new mortgages.  And they've done so since the latter two were put into government conservatorship in September, 2008 in lieu of failing.  2 million foreclosures are expected this year, adding to the 7 million foreclosures since 2008.  27% or 15.7 Million of all mortgageholders now owe more than the house is worth.

But while the