Some industry groups are calling for a legislative solution to ending the conservatorships; others say FHFA and Treasury can do it themselves.

Mortgage industry stakeholders speculate about who Trump will nominate to oversee Fannie Mae and Freddie Mac and determine whether they remain in conservatorship or are re-privatized.

Although a Republican victory in November might revive efforts to release the GSEs from conservatorship, this would likely be a multi-year effort, according to the former FHFA director.