Fannie Mae and Freddie Mac would be compelled under legislation passed by the House Financial Services Committee last week to provide subsidies for affordable housing activities, a proposal that seems to be causing apprehension among House Republicans, according to industry observers. Approved as part of H.R. 1461, the “Federal Housing Finance Reform Act of 2005,” the provision would require Fannie and Freddie to set aside 5 percent of their after-tax profits for affordable housing…