The Government Accountability Office said FHFA can’t accurately gauge the accuracy of the data it uses to monitor nonbanks and overlooks key risks associated with warehouse lending. FHFA agreed to address the issues.
AEI researchers said large institutional investors own about 1% of single-family homes vs. 11% for small-scale investors with low interest rate GSE-backed loans.
The shift from senior subordinate securitizations to predominantly fully guaranteed securitizations is expected to increase revenues for Freddie’s multifamily business.
The portfolios include both MBS and mortgages, with MBS holdings at Fannie Mae and Freddie Mac up nearly 60% on a quarterly basis in the fourth quarter of 2025.
David Spector, CEO of Pennymac Financial Services, said the firm’s correspondent aggregation platform is facing increasing competition from the GSEs’ cash window.
MBS holdings in the retained mortgage portfolios of the GSEs doubled between June 2025 and the end of the year. And that’s before President Trump directed them to buy $200 billion of MBS. (Includes data table.)