Affordable housing advocacy groups may be using defective data to come to their conclusions about first-time homebuyers, according to a newly published research note.

But Fannie Mae and Freddie Mac pursued different strategies in their retained mortgage portfolios. (Includes data table.)

Freddie Mac’s superior performance in 2024 was largely due to higher profits in its multifamily business.

Steady growth in retained earnings means Fannie Mae and Freddie Mac now have a large pile of interest-free capital to invest.

Affordable housing advocates may be overestimating the challenges first-time homebuyers face in the current housing market.

Fannie Mae's and Freddie Mac's plans both received a middle-of-the-road score from the Underserved Mortgage Markets Coalition.

The top three loan sellers to Fannie and Freddie in January: UWM, PennyMac Financial and Rocket Mortgage. Chase ranked fourth.

All but one of the top 10 GSE sellers delivered a higher proportion of mortgages to Freddie Mac than Fannie Mae in January. (Includes two data tables.)

The sign of a good business model is one that makes profits in good times and bad. Fannie and Freddie have shown strong profits throughout the post-pandemic downturn. (Includes data table.)

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