The Trump administration has provided little guidance on how the GSEs will achieve their goal of purchasing $200 billion of agency MBS. Still, actions by Fannie and Freddie have helped competing agency MBS investors get comfortable with activity by the mortgage giants.

Testifying before the House Financial Services Committee this week, Federal Reserve Chair Kevin Warsh said any changes to monetary policy — including the Fed’s balance sheet — will be made transparently and communicated in advance to the market.

While FICO and VantageScore debate whose new credit score model performs best, industry insiders say the transition to new scoring models may take years.