Attempting to complete a plan that started under President Donald Trump’s first term, the current administration is working to finally close the books on the mortgage crisis of 2008–09 by unwinding the federal takeover of mortgage giants Fannie Mae and Freddie Mac.
“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,” Trump wrote in a post on Truth Social on May 27.
Bill Pulte, director of the Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac (the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp., respectively), predicted that they would bring “trillions of dollars worth of value to the American taxpayers.”…