Rhetorical questions both, but amazingly we have one of the GSE's making news again by stating they will be loosening rules and standards for homeowners wishing to refinance.
Fannie Mae will drop some credit-score requirements, reduce income-documentation standards and waive the need for appraisals in some cases, according to a notice yesterday to lenders posted on the Washington-based company’s Web site. The changes apply to loans that the company owns or guarantees.
The loosening of standards, many say, led us all to the housing market we have today. There is another time and place for that never ending argument. I may have some of my own reservations on such practices... but if you are a homeowner with FannieMae or FreddieMac financing and need to lower payments, you will want to read the entire article I linked to above.