President Donald Trump announced that he planned to take Fannie Mae (OTCQB: FNMA) and Freddie Mac (OTCQB: FMCC) public, which would end the federal conservatorship of the government-sponsored enterprises that have been in place since September 2008.
In a post on his Truth Social site, Trump declared, “Our great Mortgage Agencies, Fannie Mae and Freddie Mac, provide a vital service to our Nation by helping hardworking Americans reach the American Dream — Home Ownership. I am working on TAKING THESE AMAZING COMPANIES PUBLIC, but I want to be clear, the U.S. Government will keep its implicit GUARANTEES, and I will stay strong in my position on overseeing them as President. These Agencies are now doing very well, and will help us to, MAKE AMERICA GREAT AGAIN!”
Trump did not provide a timeline or details for this endeavor. Reuters reported that Fannie Mae’s shares in the Over-the-Counter market rose 16.6% to $12.30 ahead of today’s trading session while Freddie Mac shares spiked by 18.4% to $9.00. Their respective shares hit their highest levels since 2008 last week after Trump first announced he was considering plans to end their conservatorship.
Federal Housing Finance Agency Director Bill Pulte took to X to cheer the news, declaring, “Thank goodness we have a President who cares and loves Fannie Mae and Freddie Mac!”
