Fannie Mae and Freddie Mac were effectively nationalized about 15 months ago, and neither the White House nor lawmakers have figured out a way to repair the mortgage giants without landing a disastrous blow to the housing market and stemming the flow of credit to homeowners. The Obama administration had said it would outline a new course for the companies with its budget proposal, but failed to do so. "We are disappointed. We believe the GSE issue needs to be addressed this year," said Scott Talbott, senior vice president of government affairs at The Financial Services Roundtable. "We believe the uncertainty around the future of GSEs is having a drag on the housing market."