What does the future hold for Fannie Mae and Freddie Mac? Most mortgage bankers I've talked to over the past month think that eventually the two will be replaced by some type of private system of guarantors who will be back-stopped by Uncle Sam and regulated by the Federal Housing Finance Agency. There might be a small portfolio component managed by the government — but that could be a long shot. Meanwhile, long-time Fannie/Freddie pal Rep. Barney Frank will hold a press conference next week on 'The Future of Housing Finance: A Progress Update on the GSEs.' Mark your calendars. Also, these two mortgage firms are hiring: PNC Mortgage, and Foundation Financial Group
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