Trump estimates $1T value for Fannie Mae and Freddie Mac
President Donald Trump said Fannie Mae and Freddie Mac are probably worth about $1 trillion, adding fresh fuel to speculation over whether the government sponsored mortgage giants could eventually return to public markets.
FHFA Director Bill Pulte has also argued that the two entities could be worth far more, while separately estimating their value at roughly $500 billion to $700 billion earlier this year.
The debate has intensified as investors continue watching for any move to reduce the government’s control over Fannie and Freddie, which have been in conservatorship since the 2008 financial crisis.
The two companies remain central to US housing finance, with combined exposure to trillions of dollars in mortgages and guarantees. Fannie Mae alone reported a $4.1 trillion guaranty book of business at the end of 2025, underscoring the scale of the system behind the agencies.
Trump has also directed Fannie and Freddie to buy $200 billion in mortgage backed securities in an effort to lower mortgage rates and support housing affordability.
Pulte confirmed in January that the two entities would carry out the purchases, though analysts have warned the impact on mortgage rates may be modest because of the size of the broader MBS market.
The potential path out of conservatorship remains uncertain. A public offering would require major regulatory and political decisions, including questions over capital requirements, government ownership, taxpayer protections, and the future structure of the US mortgage market.
The crypto angle is narrower but still notable. Better Home & Finance and Coinbase have launched a Fannie Mae eligible mortgage product that lets qualified borrowers pledge Bitcoin or USDC as collateral for a down payment without selling the assets.
The companies said they funded the first Fannie Mae backed mortgage using Bitcoin as collateral and plan a broader rollout this summer.
That does not mean Fannie Mae broadly accepts crypto as collateral across all conventional mortgages. Fannie Mae’s existing selling guide still says virtual currency must generally be converted into US dollars and verified before closing.
The Better and Coinbase product appears to work through a specific collateral structure tied to the down payment and a Fannie Mae eligible loan.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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