Published: Feb 09, 2011 12:24 PM EST
Updated: Feb 09, 2011 9:27 AM EST

Washington D.C.   Fannie Mae and Freddie Mac may soon be history.

 Friday  the White House will roll out plans  that include three options to phase out the mortgage giants.

This comes more than two years after the government seized Fannie Mae and Freddie Mac during the mortgage crisis.

The move is expected to launch a long and heated debate between Democrats and Republicans.

Republicans say Fannie Mae and Freddie Mac carry much of the blame for the financial crisis.

Democrats say a federal role in the mortgage industry is needed to ensure more people have access to home ownership.