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.
Quarterly profits were up at both Fannie and Freddie, but were down significantly on a year-to-date basis due to a weak first half of 2025. (Includes data table.)
The changes impact mortgages on manufactured homes, the treatment of rental income, undisclosed liabilities and single-closing construction-to-permanent loans.
According to an analysis by a former FHFA economist, GSE market share ranges from 14.5% in Eagle Pass, TX, to 67.0% in Boulder, CO. Except for Puerto Rico, these disparities are widest in the South and Southwest.