$FNMA +9.3%, $FMCC +15.3% [President Trump is exploring privatizing Fannie Mae and Freddie Mac, meeting bank CEOs for pitches on a major public offering. These mortgage giants, under government conservatorship since 2008, could yield $206B for the government and hefty fees for https://t.co/2mLu9r8NC4
Just in: President Trump meets with CEOs of major banks, including $GS and $JPM, to discuss a potential public stock offering for mortgage giants $FNMA and $FMCC, Bloomberg reports.
$FNMA $FMCC Trump seeks pitches from bank chiefs on Fannie, Freddie stock offerings, Bloomberg News reports https://t.co/tIEUsBm4hs
President Donald Trump has engaged top executives from major banks, including Goldman Sachs and JPMorgan Chase, to solicit proposals for monetizing the government-sponsored mortgage giants Fannie Mae and Freddie Mac. The discussions focus on a potential initial public offering (IPO) of stock for both entities, which have repaid bailout funds and returned to profitability since entering government conservatorship in 2008. Market reaction has been positive, with Fannie Mae shares rising approximately 9.3% and Freddie Mac shares increasing about 15.3% in after-hours trading. The proposed privatization could generate roughly $206 billion for the U.S. government and yield substantial fees for participating financial institutions.