A negative profitability gap means the guarantee fees on newly acquired loans weren’t enough to cover the expected cost of guaranteeing the loans and earning the expected return on capital.

While market share of small- and mid-sized nonbank lenders grew, there was some leakage at the large nonbank lenders. Large mortgage companies’ market share fell sequentially to 53.8% from 56.1%. (Includes two data tables.)

Even as loan deliveries to Fannie Mae and Freddie Mac increase, the two entities continue to lose business to Ginnie Mae issuers. (Includes two data tables.)

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

FHFA’s efforts to monetize the securitization platform of the GSEs may provide entre to Wall Street banks and other competitors.

Deliveries to Fannie and Freddie rose last month even as the GSEs’ market share is the lowest since the global financial crisis. (Includes two data tables.)

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

Three Democrats joined Senate Republicans in a vote to make Bill Pulte, the grandson of the founder of homebuilding giant PulteGroup, the chief regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.

Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.

It’s the first time Freddie’s MBS business has been larger than Fannie’s on an annual basis since 1991.