And if the Fed stops buying Fannie Mae, Freddie Mac and Ginnie Mae paper, it could become 1994 all over again.

FORBES: Sublime Subprime

By investing virtually all of their assets in mortgage-backed securities backed by the Government Sponsored Enterprises (GSEs: Fannie Mae, Freddie Mac, and Ginnie Mae) the Agency Mortgage REITs are able to completely deflect credit risk.

FORBES: Agency Mortgage REITs Lush Dividends To Continue

This includes debt guaranteed by the federal government, like money market funds and bank CDs, and the obligations of government agencies like Ginnie Mae, Freddie Mac and Fannie Mae mortgage debt.

FORBES: Is US Debt Downgrade Inevitable?

Today's announcement by the Fed that it will purchase direct debt obligations of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, and also mortgage backed securities guaranteed by Fannie, Freddie and Ginnie Mae, underscores our support for the housing market.

FORBES: Magazine Article