If Fannie capital had been at mandated levels, the enterprise would have had an annualized ROE of 10.3% in the third quarter.

The LLPA change, if it comes, would only apply to mortgages on second homes and cash-out refinances.

The FHFA chief urged investors to review the GSEs’ SEC filings to understand the risks involved.

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.

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.

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

The amount of agency servicing with coupons over 6.0% increased by 10.2% during the third quarter.

Underwriting for purchase mortgages remained strong while standards for refis loosened somewhat among deliveries to the GSEs in the third quarter.

FHFA's Office of Inspector General found that FHFA's community support program website “lacked fundamental safeguards,” such as user authentication, access control and privacy documentation.