What happened The stock market is off to a rough start to the week after the Senate failed to agree on a much-needed fiscal stimulus. At the close today, the Dow Jones Industrial Average and S&P 500 index were both down by about 3%. The two mortgage giants, Fannie Mae (OTC: FNMA) and Freddie Mac (OTC: FMCC), were hit far worse, with their stocks down by 14% and 12%, respectively. Both have now lost roughly 60% of their value so far in 2020. Image source: Getty Images. So what With the COVID-19 pandemic causing a near-shutdown of the U.S. economy, Fannie and Freddie have both been directed to suspend foreclosures and evictions for 60 days. In addition, homeowners who are affected by the coronavirus outbreak are eligible for a forbearance, which would allow them to suspend their mortgage payments for as long as 12 months with no late fees. Now what The problem is that unless Congress acts quickly to get relief funds into the hands of those who need it, and clarify how the government might help the mortgage industry during this tough time, we could see a massive wave of borrowers who are unable to make their payments. This could cause the cash flow of Fannie and Freddie to drop by billions of dollars per month, and with no end in sight. Fannie and Freddie guarantee $3.37 trillion and $2.27 trillion in mortgages, respectively, so we're talking some big numbers here. 10 stocks we like better than Fannie MaeWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Fannie Mae wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Matthew Frankel, CFP has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source