Researchers say the avalanche of lease cancellations initiated by DOGE in the first half of 2025 has reduced cash flows and lowered the price of the first-loss tranches of CMBS.

Pulte suggests no end to conservatorship, but that doesn’t stop the debate about how an exit would work and what the government should do with its windfall.

A proposed rule change could spell the end of FHFA regulations requiring the GSEs to file triennial equitable housing finance plans.

President Trump said he plans to maintain an implicit guarantee for the GSEs if they’re removed from conservatorship. Prominent agency MBS investors expressed relief about the administration’s stance on GSE reform even though they don’t expect near-term action.

If true, this could be an example of occupancy fraud, a method used to secure a lower interest rate or better terms on a mortgage.

President Trump and FHFA Director Bill Pulte are going after high profile targets to address mortgage fraud at Fannie Mae and Freddie Mac.

There’s no consensus on how the Trump administration’s effort to end the conservatorship of the GSEs should address senior preferred shares in Fannie and Freddie.

FHFA said lenders can now use VantageScore 4.0 when underwriting GSE loans. It’s not clear, though, if the mortgage industry is ready to take advantage of the opportunity.

The FHFA director’s social media posts echo President Trump’s criticism of the chair of the Federal Reserve for not lowering rates quickly enough.

FHFA’s efforts to monetize the securitization platform of the GSEs may provide entre to Wall Street banks and other competitors.