Securities industry stakeholders say preservation of the secondary mortgage market, especially MBS futures trading on the TBA market, is essential to keeping mortgage rates low.

The GSE investor said part of his plan can be accomplished immediately, but ending the conservatorship may take three years.

Combined issuance of CRT notes declined from $2.15 billion in the second quarter to $1.25 billion in the third.

Ackman proposed a timeline that would allow the Trump administration to claim some short-term victories while working toward a larger capital raise.

Fannie’s CAS and CIRT volumes fell sharply in the third quarter. Freddie STACR issuance was up from a weak second quarter, but ACIS volume was down 56.2%. (Includes data table.)

FHFA Director Bill Pulte touted possibility of a 50-year fixed-rate mortgage. Also under consideration: transferable and portable mortgages.

Lenders urged the regulator to spell out the GSEs’ conservatorship-era obligations that could apply even if Fannie and Freddie are released.

Lenders, in general, support the reproposed housing goals for Fannie Mae and Freddie Mac while affordable housing advocates are aghast.

If the GSEs continue the long-term path of reducing the size of their portfolios, that’s not necessarily attractive for potential investors in a capital raise by the GSEs.

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