Former Freddie CEO believes most prospective remedies to the affordability crisis will benefit only borrowers who don’t need the help.

The refi share of GSE business saw its first monthly decline since July, slipping from 37.9% in December to 37.4% in January.

Profits declined by 9% compared with the third quarter.

Recent mergers changed the top 10 lenders who delivered loans into Fannie Mae and Freddie Mac mortgage-backed securities, according to the latest ranking and analysis by Inside The GSEs.

Mergers caused deliveries of conventional mortgages from Rocket and Bayview to spike, reshuffling the leaderboard for GSE sellers. (Includes two data tables.)

FOIA documents reveal that in 2022 Fannie and Freddie business assessments determined that a single-bureau credit report would be inferior to either a tri-merge or a bi-merge.

The GSEs were already quietly adding MBS to their portfolios before Trump directed them to purchase $200 billion more. Investors may now be paying a price for that intervention.

The same braggadocio that drove GSE stocks higher early in the Trump administration now seems to be holding prices down.

Newly coordinated standards at the GSEs make it easier for certain factory-built homes to receive site-built financing.

The regulator’s financial statements followed GAAP accounting, but the analysis also revealed $32.9 million in costs associated with elimination of 216 employees.