Mortgage deliveries to the GSEs were up 14.5% from September to October, according to data from Inside The GSEs.

New rep and warrant relief at Fannie; ADUs for manufactured homes at Freddie.

Holdings of both mortgage-backed securities and mortgages increased during the third quarter.

“We, like any business, must eliminate positions that are not core, or otherwise, to mortgages and new home sales,” FHFA Director and Fannie Mae Chair Bill Pulte said of the GSE.

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

Refis accounted for 57.1% of mortgage applications last week.

The press release announcing Priscilla Almodovar’s immediate departure from Fannie didn’t include an explanation of the move.

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.

Policy changes at the mortgage giant should make it easier for borrowers to purchase properties with ADUs.