Originations of nonconforming mortgages will likely be constrained by the weight of Fannie Mae and Freddie Mac as Congress takes three years or longer to enact reform legislation that will likely be implemented over a long-term transition plan, according to industry experts. The baby steps that have been taken this year – a GOP reform bill approved by the House Financial Services Committee and a bipartisan approach in the Senate – provide some momentum for resolving the five-year conservatorship of the two ...