Pulte suggests new Fannie Mae, Freddie Mac business deals

Bill Pulte said the government-sponsored enterprises will see partnerships emerge as he eyes their money-making potential, while also upping criticism of homebuilders and the Fed chair at a housing conference Friday.  

In a call with attendees at the Residay 2025 conference in New York, the Federal Housing Finance Agency director pointed at the recent Trump administration decision to make federal investments in technology chips provider Intel as a model the government-sponsored enterprises should follow. 

"I look at it similarly but a little bit differently at Fannie and Freddie because it is actually a business. It is a private business," he said. 

"I think that Fannie and Freddie will probably take ownership in different companies by virtue of companies offering them equity in exchange for Fannie and Freddie doing smart business constructs with them. So yes, I do think that you're going to see that," he said.

Pulte characterized potential partners as "upcoming, leading tech companies."  

Earlier this year, Fannie Mae and Palantir had already signed a business agreement leading the two companies to cooperate on fraud detection efforts. Financial terms of that partnership were not disclosed. 

"I can tell you the name of one of the companies who wants to give us equity — one of many companies — and you'd be blown away with how much money is involved," Pulte continued Friday. The director did not reveal the entity but described it as "big." 

On the topic of conservatorship for the two GSEs, Pulte reiterated past statements deferring to President Trump but thought it would remain for the short term. 

"It'll be up to the president, whether he decides to do it or not, but I believe it will stay in conservatorship. I believe it will be very strong." A decision would likely come in the current quarter or early next year, as it would speed up any potential future initial public offering that the president has proposed. 

Homebuilders, Powell remain targets of Pulte criticism

Elsewhere in the conversation, Pulte called on homebuilders to do more to address affordability that has kept home purchases out of reach for many Americans, pointing at the liquidity the GSEs provide to them.

"The builders control a lot of this equation," he claimed. "I think people are going to stick out like a sore thumb who are not building. People are going to start to say, 'Well, why are you artificially constricting supply in order to keep prices high?'"

For their part, some of the largest homebuilders had previously pushed back on similar assertions made by the Trump administration. 

"We're trying to work constructively with them, and our first preference is to work with them. But they need to lower their prices," Pulte said.

The housing director also did not hesitate to throw barbs at Federal Reserve Chair Jerome Powell, ramping up his prior criticism despite recent softening of mortgage rates. Pulte has faulted Powell in the past for Fed monetary policy moves that led to declining affordability and a spike in interest rates and went as far as calling him a "maniac" on Friday.

"I wouldn't say those things if he wasn't hurting real people, but this hurts real people."