“Fannie and Freddie should maintain their affordable housing footprint, including condo, investor and second home loans — without volume caps or fee increases unrelated to risk,” CHLA said.

Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.

The bulk of the February issuance, 53.9%, came from Freddie.

Pulte said that any exit by the GSEs from conservatorship “must be carefully planned to ensure the safety and soundness of the housing market without putting upward pressures on mortgage rates.”

PennyMac has marketed an average of one non-agency MBS with GSE-eligible mortgages for investment properties per month since November.

The share of specified pools of GSE MBS increased from 40.7% in 2023 to 44.4% last year.

The February lull is a common seasonal occurrence.

Originations of agency high-balance mortgages increased by 48.6% to $53.83 billion in 2024.

The Mortgage Bankers Association is eager to see McKernan and Pulte confirmed.

A portfolio manager said if agency MBS investors aren’t kept in mind during the GSE reform process, the changes could hit investor demand for GSE MBS, having a negative impact on homebuyers.