Critics argue that, if Fannie Mae and Freddie Mac are released from conservatorship without an explicit government guarantee, MBS investors will demand wider spreads to cover the added credit risk.

Trump has nominated Bill Pulte to be director of the Federal Housing Finance Agency; Fitch upgrades master servicer rating on Mr. Cooper; new ABS issuer.

Analysts say many of the economic forces that have acted as headwinds for the agency MBS market since 2022 are now poised to become tailwinds.

The new bonds help the GSEs reduce the amount of capital they must set aside under the enterprise regulatory capital framework.

Some experts think FHFA’s stability capital buffer has helped Freddie surpass Fannie in both loan purchases and securitizations.

The largest mortgage asset exchange will bring trended data to hundreds of lenders and investors.

More and more industry insiders believe the Trump administration will attempt to release Fannie and Freddie from conservatorship.

Slow runoff speeds mean that low-coupon MBS make up a growing share of the Fed’s balance sheet. Does that mean the Fed will begin selling MBS outright?

Manufactured housing loans remain a tiny fraction of GSE acquisitions, but that share has nearly doubled since 2019 and plays an important role in spec pooling.

Third-quarter profits at the government-sponsored enterprises go up and down with their credit reserves. (Includes data table.)