The bogeyman in GSE reform – a forced downsizing of Fannie’s and Freddie’s massive MBS portfolios – may stay safely locked away in the closet in 2006. With little apparent progress over the past months since separate GSE reform bills stopped moving in the House and Senate, most odds makers say there’s not a real strong chance that Congress will complete legislation to overhaul the regulation of Fannie Mae and Freddie Mac in 2006. …