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The American people may soon be celebrating a “big win” in the U.S. housing market, according to the country’s housing finance chief.
“All these other fake politicians, they all talk and they’re no action. They’ve never spent a day in their private life in [the] private sector,” U.S. Federal Housing Finance Agency Director and Fannie Mae Chairman William Pulte said on “Mornings with Maria” on Monday.
“President Trump made a bunch of money, understands real estate, understands how to get things done. He looks at this thing, he says, ‘We’re not going to complain about it. We’re going to get something done,'” he continued. “I think this is going to be a big win for the American people.”
Pulte discussed working alongside the Trump administration to make U.S. housing “a more affordable market.” Last week, President Donald Trump said he is directing representatives to buy $200 billion in mortgage bonds to drive down rates.
AMERICANS FLEE MORTGAGE MARKET DESPITE LOWER RATES AS LENDERS TIGHTEN GRIP ON CREDIT NATIONWIDE
“Now, I am giving special attention to the Housing Market. Because I chose not to sell Fannie Mae and Freddie Mac in my First Term, a truly great decision, and against the advice of the ‘experts,’ it is now worth many times that amount — AN ABSOLUTE FORTUNE — and has $200 BILLION DOLLARS IN CASH,” the president posted on Truth Social. “Because of this, I am instructing my Representatives to BUY $200 BILLION DOLLARS IN MORTGAGE BONDS. This will drive Mortgage Rates DOWN, monthly payments DOWN, and make the cost of owning a home more affordable.”
“We’re meeting again with the homebuilders this week. I’m very confident that the builders will get building again,” Pulte said. “We’re just in the process of doing a $200 billion buy. We have over $200 billion in cash and cash equivalents at Fannie Mae and Freddie Mac. I mean, it’s crazy — almost criminal — that other presidents didn’t even know that these companies existed or used them.”
“We’re going to use this $200 billion, we’re going to make housing more affordable,” Pulte added, “and we’re going to do everything we can as an administration to reverse what’s happened these last four years.”
Pulte also applauded Trump’s recent decision to ban large investment institutions from acquiring single-family homes.
“One of the things people don’t understand is that some of the homebuilders are selling property, selling homes – if you can believe this – to corporations at 20, 30, in some cases, 40% off what they’re selling to the American people. This can’t happen,” Pulte said. “We need people in shelter. We need people in homes just like they were in President Trump’s first term. People should live in homes, they shouldn’t be on corporate balance sheets.”
FOX Business previously reported that it’s unclear what legal authorities the president will cite in his push to ban institutional firms from buying homes, or what additional measures he’s pushing for Congress to take.
“I’m very confident that this will get done. You’ll see executive action from him, and then shortly after that, he’ll codify it with Congress,” Pulte said.
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FOX Business’ Eric Revell contributed to this report.
