In recent weeks, government discussions have (again) picked up concerning how to prevent a repeat of the recent mortgage crisis.  The problem is multi-faceted, but all begins in the loan origination process, which eventually turns to the heart of how and to whom business is incented during that process.  Intertwined in that discussion is what to do with Fannie Mae and Freddie Mac—the government-sponsored mortgage securitization entities now in conservatorship and effectively owned by the American public.  According to recent statistics, approximately 90% of the U.S. residential mortgage market is currently backed by the government in some fashion.  Read more