Compared to previous activity, this means that the companies will engage in about 50% less second home and investment property buying. As such, the FHFA has regulatory oversight of the two companies, and made the recent announcement in an effort to reduce the companies’ overall risk. To compensate for the increased risk, mortgage lenders will likely increase rates. When mortgages become more expensive—which will likely happen due to this case—it puts negative pressure on property prices. But in the meantime, investors and second-home owners are facing the prospect of much higher fees for a mortgage.