Policymakers are looking to revamp the nation's home loan system next year after the collapse of U.S. housing and mortgage markets spurred the current economic crisis.
Under one possible approach, Fannie Mae and Freddie Mac, the federally run companies that control half of the nation's $11 trillion mortgage market, would disappear, leaving lending primarily to private banks. Taxpayers would no longer be on the line for subsidizing home loans. But analysts say it could become much harder to get a mortgage -- at least one with a relatively low interest rate and a 30-year term.
