Debate on Fannie, Freddie's future begins

Washington lawmakers will start the debate on the future of housing finance after the Federal Deposit Insurance Corp. releases a report on risk retention rules, CNBC reports. Why is this important? Because we may see the end of 30-year fixed mortgages as we know it. Banks may have to take more risk, Fannie Mae and Freddie Mac may be a totally different organization, and home buyers may have no choice but to put down 20 percent of the payment upfront.