FHFA directed Fannie Mae and Freddie Mac to resume the MBS buying spree that President Trump requested in January.

Analysts suggest that the proprietary credit scores of the GSEs, if released prior to pooling loans into MBS, could serve as the basis for a new category of specified pool.

Lenders expect confusion if the GSEs haven’t implemented FICO 10T before FHA allows for use of the score in January.

A new study by UI housing researchers shows that VantageScore 4.0 and FICO 10T significantly outperform Classic FICO. 10T also outperforms VS4, but by a much smaller margin.

Rocket Mortgage’s deliveries ebbed 3.4% from July, to $7.76 billion, but its edge over United Wholesale Mortgage expanded as the latter saw a 13.1% monthly decline in GSE sales to $5.81 billion.

A recently released research paper estimates that the scoring model only accounts for about two thirds of the difference between VantageScore 4.0 scores and those of FICO 10T.

Fannie Mae and Freddie Mac securitizations jumped 11.1% last month, reversing a three-month declining trend. On a year-to-date basis, GSE sales were up 22.5% from the first eight months of 2025. (Includes two data tables.)

Even though FHFA Director Bill Pulte spent much of last year floating the idea of LLPA reform as a way to lower the cost of a mortgage, the new LLPA grids for VantageScore 4.0 were not accompanied by a reduction in fees for Classic FICO loans.

Industry stakeholders say credit score changes are positive, but still face operational and market challenges.

The FHFA director claims private mortgage insurers are excessively profitable and should return some of that money to consumers.