Industry insiders worry that mixed signals from the Trump administration makes complex decisions, like ending the conservatorship, more difficult.

The president’s plan to maintain the implicit guarantee of Fannie Mae and Freddie Mac MBS still leaves unanswered many questions that skeptics say are critical to the GSEs’ safe and sound exit from conservatorship.

It’s not clear how the Federal Housing Finance Agency’s decision to cut the DEI and ESG programs at the GSEs will impact MBS issuance.

The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.