Ousted Fannie Mae CFO Timothy Howard: “the ‘GSE model’ for the secondary mortgage market was not flawed…”It was sabotaged.”

An overhaul of Fannie Mae and Freddie Mac continues to draw chatter in Washington, prompting a number of people to break long-held silence on the legacy of the government-sponsored enterprises.

Adding his voice to the conversation is former Fannie Mae CFO Timothy Howard, who was ousted in late 2004 along with then-CEO Franklin Raines. Howard, who spent 15 of his 22 years at Fannie Mae running its mortgage investment portfolio, is releasing a book Dec. 2, “The Mortgage Wars,” to present his view of what burst the housing bubble and created the 2008 financial crisis.

To hear Howard explain the issue, Fannie Mae bears little responsibility for the chaos that blew up other financial institutions, led to the creation of the Troubled Asset Relief Program and is spurring ongoing debate…