The ongoing effort to privatize Fannie Mae and Freddie Mac, a project initiated during the Trump administration, is moving closer to reality. This plan aims to finally close the chapter on the 2008-2009 mortgage crisis by unwinding the federal government’s control over these mortgage giants.

In a May 27th post on Truth Social, President Trump stated his intention to “TAKE THESE AMAZING COMPANIES PUBLIC.” He emphasized that the U.S. government would retain its implicit guarantees and that he would maintain oversight.

Bill Pulte, director of the Federal Housing Finance Agency (FHFA), the regulatory body overseeing Fannie Mae (Federal National Mortgage Association) and Freddie Mac (Federal Home Loan Mortgage Corporation), anticipates a significant financial return for American taxpayers. He projects “trillions of dollars worth of value” from the privatization.

This move has the potential to significantly reshape the US housing market, and its success will depend on navigating complex regulatory hurdles and ensuring the stability of the mortgage finance system.