Would exiting conservatorship expose Fannie and Freddie to more or less risk from political meddling?

Rejiggering the Rube Goldberg machine of housing finance will require careful thought and timing. Unless Trump does it with an executive order.

Fair Isaac Corp. CEO William Lansing asserted that FICO is the best tool for assessing credit risk, and he doesn’t see that changing whether the government is more or less involved in the GSEs.

While the Trump administration wants to end the conservatorship of Fannie Mae and Freddie Mac, there are numerous roadblocks.

Hugh Frater and Don Layton speculate on the likelihood a second Trump administration can get Fannie Mae and Freddie Mac out of conservatorship.

Treasury and FHFA agreed on some guidelines for how the process of getting the GSEs out of conservatorship will work. But they didn’t set that process in motion.

Ginnie MBS issuance outpaced the GSEs beginning in 2022, a trend that holds to this day. (Includes two data tables.)

Some industry groups are calling for a legislative solution to ending the conservatorships; others say FHFA and Treasury can do it themselves.

Although Fannie Mae and Freddie Mac failed to reach their multifamily volume caps in 2022, 2023 and probably 2024, FHFA raised the caps from $140 billion to $146 billion for 2025.

The reduction in fees for mortgages on homes that qualify for the GSEs’ housing goals are estimated to increase Fannie and Freddie acquisitions by 37,000 loans in 2025.