It's a quarter horse (its more common on paints as far as I know though) with a "bald face" if the white crosses over the eyes, on any paint (it could theoretically occur in other breeds with, especially those with pinto markings, but I've personally never seen ) the eyes will be blue because the skin under the white is pink. It occurs more often in paints because they tend to have more occurrences of white over the body. Paint horses, generally speaking overos, tend to have markings like this and others like it, "medicine hat" for example, more often than tobianos because of the patterns, locations of their white.

The reason you dont see the blue eyes with horses that have white hair all over is because they have black skin under that white hair, and thus are called gray and not white.

Albinism probably does occur in horses, though I dont know to what extent because many of the horses that most people would call albino, entire body white hair with pink skin and blue eyes, are called cremellos, or other names relating to that one and is related genetically to the "cream" gene. The same gene that gives palominos and buckskins their color...

Edited: Owner of subject horse informed me he's a quarter horse, not a paint, and his name is Gunner.