This is a conflict that's going to come to a head very soon - assuming that the GSEs survive long enough. Doubt over that is widespread... for example:

Tuesday's earnings report should cause investors to question whether the very entity charged with saving the real estate market will actually need to be rescued itself.

...there are certain things that America cannot have, that are simply beyond our reach. We cannot prop up a $20 trillion housing market. It's simply too big...And it isn't obvious to me why Freddie and Fannie should be made to take on risky mortgages to bail out hapless investors and foolhardy creditors.

Per the article, the mortgage GSEs are exceeding their minimum capital requirements by approximately $7 billion, and while the GSEs believe that new revenue and investment dollars will offset any future losses can we afford to risk them being wrong? I contend that the country simply can’t afford to have any two companies in a position to cause such a large negative impact on the economy...The mortgage GSEs should be broken up into several smaller companies, with restrictions placed on how large they’re allowed to grow and on their investment activities.