Fannie Mae’s retained mortgage portfolio surpassed the size of Freddie Mac’s in January, a first since 2022 as Fannie is adding to its MBS holdings at a faster rate than Freddie.

Figure Technology Solutions is working to facilitate originations and sales of first-lien mortgages, touting lower costs and modern technology compared with delivering loans to Fannie Mae and Freddie Mac.

MBS holdings in the retained mortgage portfolios of the GSEs doubled between June 2025 and the end of the year. And that’s before President Trump directed them to buy $200 billion of MBS. (Includes data table.)