Here’s an idea. Why not let people of who want to borrow money to buy a house convince the people who lend the money that there’s a good chance that the money will get paid back. Creative, no? It’s called voluntary exchange. Or a market. Or normal. Fannie and Freddie were abnormal. We don’t need a “new system.” The old system didn’t work because you, Barney Frank, and others, tried to steer it. Let’s have NO SYSTEM that you figure out and control and steer. Let’s let the housing market emerge that has the built-in feedback loops of profit and loss.