Fannie/Freddie/FHA should set up a program to re-finance any mortgage originated before December 31, 2008, which is current on payments, at a rate 1% above the average private market rate - and to approve these loans based only on the on-time payment history, not the current income / debt / appraisal standards.
Today, banks offer mortgage re-financing under tough standards not possible for many homeowners dislocated by the 2008 crash; or assistance programs designed for people who are underwater or behind on their payments.
This will help people who made large down-payments during the housing bubble and pay every month, but now have more debt or lower income since the crash and are stuck either selling their house in a saturated market, or stopping payments to qualify for assistance.