White House Keeps Fannie and Freddie Privatization Alive Despite Leadership Shuffle

President Donald Trump told reporters aboard Air Force One on Friday that his administration remains open to a public offering of Fannie Mae and Freddie Mac shares, pushing back against speculation that the plan had been abandoned. Trump said an IPO is under consideration but not imminent. His comments came after he named Federal Housing Finance Agency Director Bill Pulte as acting director of national intelligence, a move that raised questions about the administration’s housing finance priorities. Pulte is set to begin his temporary intelligence role on June 30.

Fannie Mae and Freddie Mac have been in federal conservatorship since the 2008 financial crisis and now back roughly 70 percent of U.S. mortgage originations. Any change to their ownership structure carries wide implications for housing finance and mortgage pricing. In November, Pulte said the government was exploring the sale of up to 5 percent of the companies’ shares while keeping them in conservatorship. Trump revived the IPO discussion in May 2025 and consulted with executives from JPMorgan Chase, Goldman Sachs, and Bank of America before signaling plans for an offering in August.

Shares of both Fannie and Freddie rose last year on investor optimism about privatization but have fallen more than 30 percent in 2025 as doubts about the plan increased. On Friday, Fannie Mae stock dropped 0.74 percent and Freddie Mac fell 1.07 percent. Pulte’s dual appointment has drawn bipartisan criticism, with several senators backing an amendment to bar him from holding both positions simultaneously. Trump indicated Pulte will not be nominated for the intelligence post permanently and said he views the Office of the Director of National Intelligence as either unnecessary or oversized.