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.)

Although FHFA Director Bill Pulte recently put the value of the GSEs at $1 trillion, most estimates are between $300 billion and $600 billion. Meanwhile, Commerce Secretary Howard Lutnick suggested that only a small portion of the GSEs will be sold via a stock offering.

FHFA’s spring regulatory agenda includes plans to scrap nine existing and proposed rules.

An Ohio court found that Freddie’s rosy statements in 2007 about its exposure to subprime and Alt A loans weren’t misleading, in part, because there was no universal definition of those terms at the time.

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

Industry insiders worry that mixed signals from the Trump administration makes complex decisions, like ending the conservatorship, more difficult.

Pulte suggests no end to conservatorship, but that doesn’t stop the debate about how an exit would work and what the government should do with its windfall.

Just one week after VantageScore 4.0 credit score was allowed for underwriting GSE-eligible loans, competitor FICO released data appearing to show that FICO 10 T has superior predictive capabilities.

The only banks among the top 10 GSE sellers in the first half of 2025 were Chase Home Finance and AmeriHome Mortgage. (Includes two data tables.)

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