If the residential finance market is fully privatized as outlined in the Obama Administration’s white paper, Walker & Dunlop’s CEO Willy Walker says lenders will loan only to top borrowers.  This will shut down at least 20% of subprime borrowers, moving them to rental markets.  “For multifamily, that is clearly an upside,” said Walker, the keynote speaker at RealShare Washington, DC’s ninth annual real estate networking conference.  According to GlobeSt.com, he said another implication of the proposal may be the end of the 30-year fixed mortgage.  CWCapital Senior Vice-President Dee McClure said, “Multifamily is five percent of Fannie and Freddie’s portfolio, and it is their profitable side.  This is a unique period for multifamily.  What we need to do is educate the legislators on what the loss of the GSEs will mean.”