“Our agency portfolio benefitted from meaningful spread tightening during the quarter driven by increased MBS demand and declining volatility,” said David Finkelstein, CEO and co-chief investment officer of the REIT.

The NAHB said its members agree that getting more homes built is essential, and the group is prepared to work with the administration to remove regulatory obstacles, ease material and labor shortages, and expand access to affordable financing to enable builders to construct more attainable, affordable housing.

“Someday hopefully the mortgage market will come back, and that will help us but ... we’re not counting on it,” said Rajinder Singh, chairman, president and CEO of BankUnited.

Mortgage leaders at this year's MBA annual event in Las Vegas said that creating more scale is one solution to turn a profit in a more costly mortgage production environment.

Many expect issuance of both expanded-credit MBS and securitizations of home equity loans in 2026 to top the volume seen this year.

During the third quarter of 2025, neither Fannie Mae nor Freddie Mac issued a single green MBS.

Trade groups say allowing the GSEs to fill the gap left when the Fed quit buying MBS in 2022 could lower mortgage rates as much as 30 basis points.

Pennymac sold MSR with an unpaid principal balance of $12.0 billion; Freddie Mac sold delinquent non-performing residential first liens; CSBS and MISMO open registration for MCS Tech Sprint event; Canceled home-purchase agreements reached 15% in September.

Mortgage leaders expect some form of government guarantee to stick around even if the GSEs exit conservatorship.

Attendance at ABS East hit another record this year.