Investing.com -- Recently confirmed Trump administration Federal Housing Finance Agency director, William Pulte, wants to make Fannie Mae (OTC:FNMA) and Freddie Mac (OTC:FMCC) great again.
“Fannie Mae and Freddie Mac are great American Icons, and under President’s leadership of America, they will return (safely and soundly) to their Glory!,” Pulte said in an X late Thursday.
Pulte is the grandson of Pulte Homes (NYSE:PHM) founder William Pulte, one of America’s largest home builders. He is a former private equity investor and self-proclaimed “inventor of Twitter philanthropy.” He founded the nonprofit group Detroit Blight Authority, which focuses on removing abandoned and run-down properties in Detroit.
Pulte was confirmed in a 56-43 vote by the U.S. Senate on Thursday and has issued several tweets since.
“For far too long, Fannie Mae and Freddie Mac have been underperforming (compared to where they should be at) as companies and in Safety and Soundness but now, thanks to President Trump and his Golden Age of Housing, we will fix it, Effective Immediately!,” Pulte added.
Pulte added that he will immediately review their 2025 budgets for Fannie and Freddie, which generate over $30 billion in annual earnings. In addition, he said getting rid of mortgage fraud will be one of his main focuses.
Shares of both companies have surged since Trump’s election victory on November 5th on hopes they will be released from U.S. conservatorship.
Fannie is up 313%, while Freddie is up 282% since the election.
