Federal Housing Finance Agency (FHFA) Director Bill Pulte stated Thursday that President Donald Trump is expected to make a decision within the next one to two months regarding a potential stock offering for government-sponsored enterprises Fannie Mae and Freddie Mac through an initial public offering process.
Speaking with CNBC, Pulte emphasized that while his agency has prepared various options, the final determination rests “entirely” with Trump.
The potential IPOs are being considered as part of a broader administration strategy to address housing affordability challenges across the country.
“We have about 20 to 30 different items that we’ve presented to the president,” Pulte told CNBC. “I’m going to leave it for him to figure out which ones he’s going to do and announce.”
In terms of the possible Fannie-Freddie IPO, the timeline for a decision appears to be accelerating after months of speculation during the latter half of 2025.
“I expect the president to make a decision in the next month or two in that regard,” Pulte said.
Fannie and Freddie do not originate mortgages. Instead, they purchase loans from lenders and package them into mortgage-backed securities, providing essential liquidity to the housing market. They have operated under government conservatorship since the 2008 financial crisis, and their potential return to the New York Stock Exchange following their 2010 delisting has been a recurring subject of speculation for over a decade.
Beyond the structural future of the companies, Pulte used the interview to outline the operational role Fannie Mae and Freddie Mac could play in lowering housing costs. He firmly rejected assertions that the companies possess limited power to influence home prices, labeling such a claim “misinformation.”
“Fannie and Freddie give billions of dollars’ worth of liquidity to the builders,” he said. “We can change pricing.”
The FHFA director described the agency’s capabilities as having “a lot of tools in our toolbox,” noting it is prepared to utilize both a “carrot” and a “stick” approach to incentivize market behaviors that could lower costs for homebuyers.
“The main focus is on getting people in homes,” he said.
On Wednesday, Trump indicated on Truth Social, his social media platform, that he plans to reveal further housing affordability measures — including a possible ban on institutional investors buying single-family homes — during his upcoming speech in Davos, Switzerland, two weeks from now.
Asked by CNBC for his opinion on the matter, Pulte responded: “Well, I’ll leave it to the president to come out with the specifics. Obviously I think the president will, as he said, take executive action, and then I think he’ll go to Congress to codify it.”
