Washington: President Donald Trump says that the government will retain guarantees and an oversight role over Fannie Mae and Freddie Mac even as he pursues a public offering for the mortgage giants.

“I am working on taking these amazing companies public, but I want to be clear, the US government will keep its implicit guarantees, and I will stay strong in my position on overseeing them as president,” Trump wrote in a post on his Truth Social platform. 

The companies, which play a crucial role in the market for mortgage-backed securities, have been under government conservatorship since the 2008 financial crisis.

Fannie and Freddie have both returned to steady profitability, with earnings being retained. — Bloomberg