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President Donald Trump’s Federal Housing Finance Agency (FHFA) chief, Willian Pulte, is initiating sweeping reforms at federal mortgage giants Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC), signaling a push toward privatization. Pulte has removed over a dozen board members at both institutions and named himself chairman, installing a new slate of directors aligned with his vision.
The dramatic overhaul comes as the Trump administration explores strategies to return Fannie Mae and Freddie Mac to private ownership. The two entities, established by Congress in the 20th century, play a critical role in the U.S. housing market by purchasing mortgages and packaging them into government-backed securities, ensuring stability and liquidity in the secondary mortgage market.
Since being placed under government conservatorship during the 2008 financial crisis—triggered in large part by the collapse of subprime mortgage-backed securities—Fannie and Freddie have been a point of political contention. Trump’s plan to privatize them could potentially generate significant revenue for the federal government and support his broader goal of reducing the national deficit.
Pulte’s leadership changes include the recent firing of Freddie Mac CEO Diana Reid. In a bold move, Trump is reportedly reviewing a proposal to transfer Treasury ownership of both entities to a newly proposed sovereign wealth fund.
Privatization of Fannie Mae and Freddie Mac would mark a historic shift in U.S. housing policy, potentially reshaping the mortgage market. The administration believes that moving the agencies out of government control could improve efficiency and reduce taxpayer exposure to housing market risks.
As reforms accelerate, investors and housing market stakeholders are closely watching developments that could redefine the future of America’s mortgage finance system.
