HUD has no oversight authority over the GSEs, but it looks as though the HUD secretary will have a seat at the restructuring table.

Historically, the GSEs maintained vast portfolios that generated the lion’s share of their profits.

Fannie Mae's and Freddie Mac's plans both received a middle-of-the-road score from the Underserved Mortgage Markets Coalition.

The top three loan sellers to Fannie and Freddie in January: UWM, PennyMac Financial and Rocket Mortgage. Chase ranked fourth.

A full plate of agenda items and a lack of experienced leadership makes a GSE exit from conservatorship unlikely under the new administration.

Uncertainty on the future of Fannie Mae and Freddie Mac has caused some lenders to deliver their agency-eligible production to the non-agency secondary market.

It was largely business as usual for Fannie Mae and Freddie Mac in the fourth quarter. But going forward, the Trump administration could make moves to reduce the two GSEs’ activity. (Includes data table.)

The Trump administration will likely take starkly different positions on housing and the mortgage market compared with the Biden administration. Expect changes at the GSEs, while a reduction to FHA mortgage insurance premiums looks unlikely.

The real estate investment trust sees positives in agency MBS despite concerns around the future of the GSEs.

The big question: Who will Bessent hire at Treasury to make the GSE (release) dream happen?