With two sources of repayment to secure the bond, capital required would not be onerous. There is an ocean of liquidity in the world looking for quality investments. The five largest sovereign wealth funds are believed to have over $2 trillion in assets and money market funds have well over $3 trillion. This vehicle is used in Europe and over $2 trillion in bonds have been issued.
So the mortgage market will revert to the private sector and FNM and FRE can figure out their own equity survival. Quality investment opportunities will attract investors if you have a stable currency. Defend the dollar, oil will move lower since it's priced in dollars, and inflation will be attacked.
(For more market discussion, see the videos).
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