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U.S. President Donald Trump announced Wednesday that he is seriously considering taking Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) public. The two government-sponsored enterprises (GSEs), which play a central role in the U.S. housing market, have been under federal conservatorship since the 2008 financial crisis.
In a social media post, Trump stated, “Fannie Mae and Freddie Mac are doing very well, throwing off a lot of cash, and the time would seem to be right.” He added that he would soon consult with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Federal Housing Finance Agency Director William Pulte before making a final decision.
Created by Congress as for-profit corporations, Fannie Mae and Freddie Mac were designed to support the housing market by purchasing mortgages from private lenders and converting them into mortgage-backed securities. However, both companies became insolvent during the subprime mortgage meltdown, leading to a government bailout and federal oversight.
Since then, both firms have rebuilt capital reserves and repaid their Treasury loans. While discussions around their privatization began during Trump’s first term, momentum has resurfaced in 2025, with the Treasury Department and FHFA previously indicating plans for a long-term exit from federal control.
Shares of Fannie Mae and Freddie Mac currently trade on over-the-counter markets. While Trump has not provided a specific roadmap for an IPO, investors are closely watching for details on how the public offering might unfold and what regulatory hurdles remain.
The potential privatization of Fannie and Freddie could mark a major shift in the U.S. mortgage finance system and has significant implications for the housing market, investors, and financial regulation.
