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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 62 July 2025 J O U R N A L now doing very well, and will help us to, MAKE AMERICA GREAT AGAIN!" The letter continues with several concerns that the coalition has regard- ing the reprivatizing Fannie Mae and Freddie Mac, specifically that no frame- work or guide exists for the plan. "We have serious concerns that you plan to make significant changes to the Enterprises in a way that would put in- vestor profits over the homes of millions of Americans. Should President Trump make good on his plans; he may take us back to the status quo before the 2008 foreclosure crisis, when the Enterprises' investors enjoyed the full profits that come with privatization while knowing taxpayers would be on the hook for any future failures. In fact, as Trump's posts have fostered uncertainty for consum- ers, the Enterprises' stock prices have seen significant gains." Barron's reports that Fannie Mae and Freddie Mac stocks traded more than 30% higher following President Trump's post on the GSEs' going public. "It has also been reported that the Administration may consider relisting the Enterprises on a stock exchange … However, the Administration has also not released any information indicat- ing whether the Enterprises' financial positions would make it feasible to take them public, including by relisting their common and preferred stock, or what taking them public would entail," the lawmakers continued in the letter. Pulte recently appeared on the Fox Business program, The Claman Count- down, discussing news of privatization, and the ripple effect it may have on the financial markets. Much of the concern about taking Fannie and Freddie public involves what is known as an "implicit guarantee" that the two had on mortgage loans—the market assumption that if something went wrong, the government would intervene and bail them out. "A lot of other presidents, as you know, haven't really focused on these two entities," added Pulte. "It's kind of crazy, to be honest with you, but President Trump, he just kind of finds money wherever it is, and in this case, he found at Fannie Mae and Freddie Mac … we have $7.8 trillion in these companies. There's no President other than President Donald J. Trump who understands more about mortgage rates, the housing market construction … Fannie Mae and Freddie Mac could be way stronger in his hands, frankly, than anybody else's hands." Additional Democratic Senators who are part of the coalition include: Sens. Tina Smith, Raphael Warnock, Lisa Blunt-Rochester, Catherine Cortez Masto, Ruben Gallego, Andy Kim, Chris Van Hol- len, Mark Warner, Bernie Sanders, Mazie Hirono, Gary Peters, and Ron Wyden. The Senators requested answers from Pulte to eight questions posed within the letter by June 18, 2025, followed by a briefing to discuss the responses. SENATORS UNVEIL BILL TO ADJUST FHLBANK EXECUTIVE PAY T he Curbing Unreasonable Remuneration at Banks (CURB) Act was presented by U.S. Sen- ators Jim Banks (R-Ind.) and Catherine "At Fannie Mae and Freddie Mac, we have $7.8 trillion in these companies … these companies are immensely valuable, and we are finally turning these companies around in getting them to be good, healthy, stable companies for the benefit of the American people." —William Pulte, Director, Federal Housing Finance Agency (FHFA)