What do investors' worries about the government-chartered -- but for-profit companies -- mean for housing markets? Well, Fannie and Freddie have practically been the only game in town of late for mortgage lenders like Countrywide Financial Corp., who are largely unable to make loans that aren't elligible for repurchase or guarantee by Fannie and Freddie. "Private-label" securitization of mortgage loans for sale to Wall Street investors -- the source of the easy money that fueled the housing boom -- has largely evaporated.
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