The Congressional Budget Office's latest forecast for loan and guarantee program costs highlights some of the reasons the Trump administration has considered selling off a minority equity interest in two government-sponsored enterprises held in conservatorship. (The GSEs are technically outside the federal budget but the CBO numbers do have policy implications for them.) Many lenders rely heavily on HUD programs in addition to the GSEs for business. Overall, the CBO finds all housing and real estate programs combined save the government $19.2 billion with the market value liability being equal to that amount. While the relationship to the mortgage market is indirect, student loans do have some bearing on how fast younger homeowners can afford to buy homes and can influence delinquency rates.