T
he Trump administration is reportedly pushing forward with plans to privatize Fannie Mae and Freddie Mac, with the goal of taking both government-sponsored enterprises public before the end of 2025. According to The Wall Street Journal, unnamed sources familiar with the discussions indicate that the GSEs will either go public together or under separate initial public offerings.

    This move has been in the works for months, following meetings between President Donald Trump and leadership from major banks to discuss the future of Fannie and Freddie. Federal Housing Finance Agency Director Bill Pulte reorganized both boards of directors and named himself chair of each, sparking speculation about long-term change at the GSEs.

    If privatization occurs, Fannie and Freddie could be valued at around $500 billion, with a share sale expected to bring in $30 billion. However, this move has been met with opposition from top Democrats, who argue that it will upend middle-class Americans looking to buy or refinance a home while benefiting the wealthy.

    Roger Alford, a University of Notre Dame Law School professor who testified against the National Association of Realtors during commission cases, was fired from his role at the U.S. Department of Justice's Antitrust Division just weeks after his appointment. The exact causes for the firing were not specified, but insubordination was mentioned.

    Meanwhile, Sen. Cynthia Lummis of Wyoming is pushing for change in mortgage lending with new legislation that aims to bring the process "into the digital age." The 21st Century Mortgage Act would require Fannie Mae and Freddie Mac to consider digital assets, including cryptocurrency, in mortgage underwriting.

    President Trump has also appointed Stephen Miran to serve on the Federal Reserve Board of Governors, replacing Adriana Kugler who resigned earlier this month.