Fannie executives were forced out after investigating evidence of potential wrongdoing by FHFA Director Bill Pulte, sources say.

Pershing Square founder Bill Ackman, who earlier this year pitched a swift end to the conservatorship, now says it could take as long as three years. He also has some near-term suggestions.

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.