Market share of the top-five GSE servicers jumped from 35.1% in the third quarter of 2025 to 40.4% in the fourth. (Includes two data tables.)

Some critics argue that forcing Fannie Mae and Freddie Mac to intervene in the mortgage-backed securities market may indicate their recapitalization and release from conservatorship is now on hold.

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.