Pershing Square founder Bill Ackman, who earlier this year pitched a swift end to the conservatorship, now says it could take as long as three years. He also has some near-term suggestions.

FHFA’s bid to reduce the GSEs’ low- and very-low-income benchmarks was praised by some lender groups, but disparaged by affordable housing advocates.

According to an analysis by a former FHFA economist, GSE market share ranges from 14.5% in Eagle Pass, TX, to 67.0% in Boulder, CO. Except for Puerto Rico, these disparities are widest in the South and Southwest.

Trump administration hinted a GSE stock sale might resemble its recent Intel deal, potentially seeding a national sovereign wealth fund.

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

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

Republicans may hope to use any windfall the government gets from selling its stake in the GSEs to offset revenue cuts in their “Big Beautiful Bill,” but housing advocates have other ideas.

Housing finance stakeholders continue to debate whether the Trump administration can safely release Fannie and Freddie from conservatorship.

President Trump said he’s seriously considering letting Fannie Mae and Freddie Mac go public. Industry participants are now waiting for specific details.

Critics say capital is not necessarily the main impediment to ending the conservatorship. A bigger problem is the lack of planning on what the GSEs should look like after they exit.