A Decade After the Crisis, No Resolution for Fannie & Freddie

Fannie Mae, the gigantic government-sponsored mortgage service entity, has guaranteed $1 billion of debt backed by Invitation Homes, the single-family rental business owned by the giant private equity firm Blackstone. In making the guarantee, Fannie is taking a big leap into the growing home rental market, in which Blackstone is the biggest player. But it's also a sign that the true comeback kids are not the Super Bowl champion New England Patriots but Fannie Mae and its cousin, Freddie Mac, both of which were supposed to be left for dead a decade ago.