The Independent Investor: Why Fannie and Freddie Had to Be SavediBerkshires.com, MA -2 hours agoWithout the backing of Fannie and Freddie, mortgage rates would be substantially higher and the number of qualified borrowers who qualify for credit would ... Looking for a home mortgage usually involves you, your money, and a bank officer or a mortgage broker. So what's the big deal? You ask. The end result is the same - you get a mortgage; you get a new house. But these two job types are different and it is important that you at least understand that difference.