Robertson thinks that some of the early talk of consolidation was what he called the “DOGE effect,” a period when the government was looking for places to slash spending it deemed wasteful.
“I think what you saw with the administration early on was the DOGE effect,” he said. “They thought, ‘It just makes sense for the GSEs to consolidate.’ From my side of the fence, I felt like there were a lot of silent rifts to be cleaned up. But I think that started to wane and go away. I think they’re more likely to make it go private. They’re more likely to keep the funding there, and have them both competing for those same dollars.”
The 50-year mortgage
Another issue that Robertson believes will carry over into 2026 is the addition of a 50-year mortgage as a funding option. In fact, Robertson believes that it will be added in the new year, even though he admits there are pros and cons to the new offering.
“I think obviously there’s something to be said on both sides of that argument,” he said. “I think from our seat, it’s an opportunity for a lot of borrowers to get access to a home. I think it shows progress. I think it’s going to be met with some of the natural fear that the 30-year mortgage met when it first came out. Did that change home prices? For sure, but then those settled out.”
While Robertson acknowledged that one of the primary criticisms of the 50-year mortgage is the inability to build equity quickly, he said the length of time the average person stays in a home, combined with more people able to qualify for a mortgage, should boost home values.
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