The FHFA director told homebuilders that Fannie Mae and Freddie Mac probably won’t play a big role in construction finance, but the Federal Home Loan Banks may expand their participation in the sector.

Critics say the FHFA director is woefully underqualified to lead national intelligence. The impact on FHFA is also unclear.

Despite ending his long hiatus on GSE talk, Trump fails to persuade skeptics that he’s ready to take Fannie and Freddie out of conservatorship anytime soon.