Bill Ackman’s plan calls for Treasury to forgive its senior preferred shares, a strategy that some industry observers say would be politically risky for President Trump.

Mortgage industry stakeholders discussed what happens to the UMBS, LLPAs and capital rules if shares in the GSEs are sold without letting them out of conservatorship.

FHFA Director Bill Pulte touted possibility of a 50-year fixed-rate mortgage. Also under consideration: transferable and portable mortgages.

Fannie and Freddie see the sun set on the CARES Act; Freddie executes EXPO transaction.

FHFA established a new policy — that no GSE servicer should have a market share exceeding 20% — when it authorized Fannie and Freddie to continue doing business with the combined entity that will be formed following Rocket Companies’ planned acquisition of Mr. Cooper Group.

Regulatory approval of the merged company creates the second-largest GSE seller and by far the largest GSE servicer.

The regulator, though, says no market participant can account for more than 20% of the GSEs' servicing market.

The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.

Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.

Obstacles like how to deal with the implicit guarantee and excessively high capital requirements make it unlikely that the GSEs will exit conservatorship under Trump, though the chances are higher than before his election.