Testimony from both liberal and conservative housing industry observers questioned the Trump administration’s policy regarding the future of Fannie and Freddie.

Freddie multifamily acquisitions more than doubled from the second quarter to the third, suggesting the GSE was responsible for most of the $27.84 billion spike in multifamily debt held in federal agencies and GSE portfolio and MBS.

Between 2022 and 2024, Fannie’s open multifamily fraud investigations spiked from 14 to 193. In the same interval, actual fraud findings went from 3 to 87.