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FREDDIE MAC

Federal Home Loan Mortgage Corp is a U.S. based government-sponsored enterprise. The company invests in mortgage loans and mortgage-related securities. It operates in the following segments: Single-family, Multifamily. Its Single-family segment provides liquidity and support to the single-family mortgage market through a variety of activities that include the purchase, securitization, and guarantee of single-family loans originated by lenders. The company purchases multifamily loans for aggregation and then securitization through the issuance of multifamily K Certificates as well as issues and guarantees other securitization products. Majority of the revenue is earned from single family segment.

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En una entrevista fechada el 17 de junio, Arthur Hayes, director de inversiones en Maelstrom y cofundador de BitMEX, reafirmó su predicción sobre el precio de Bitcoin (CRYPTO: BTC).

Bitcoin alcanzará 250.000 dólares a fin de año según Arthur Hayes

Fair Isaac Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FICO#NYSE">FICO</a>) stock came under pressure on last week's announcement of Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>) are now accepting VantageScore 4.0, which caused investor concerns around an erosion of the "FICO monopoly," according to Needham.
The Fair Isaac Analyst: <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5f22a54029cf490001b01b94/kyle-peterson">Analyst </a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5f22a54029cf490001b01b94/kyle-peterson">Kyle Peterson</a> maintained a Buy rating, while reducing the price target from $2,575 to $1,950.
The Fair Isaac Thesis: The company has "numerous levers," including auto scores pricing, repurchasing shares and streamlining expenses in its software business, which could enable it to drive over 20% earnings growth, Peterson said in the note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
While FICO Scores are no longer being mandated for lenders is a "big negative" for Fair Isaac, not many lenders may actually adopt VantageScore, as "infrastructure changes will need to be made," the analyst stated. 
Also, mortgage credit scores are typically passed onto the consumer and constitute a minute percentage of closing costs, she added.
Fair Isaac's market share losses in mortgage due to the announcement are likely to be "minimal," Peterson said. The stock is still a "high-quality information services asset" and continues to be in the Needham Conviction List, she further wrote.
FICO Price Action: Shares of Fair Isaac had risen by 1.41% to $1,528.41 at the time of publication on Wednesday.
Read More: • <a href="https://www.benzinga.com/news/entertainment/25/07/46371957/netflixs-squid-game-reality-show-gets-season-2-date-4-56-million-prize-without-the-killing">Cramer Says Okta Is Solid—But There&#8217;s One Cybersecurity Stock He Prefers</a>

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FICO

Will Fair Isaac's FICO Score Lose Market Share Due To VantageScore?

<a href="https://x.com/pulte/status/1943752238482280562" title="https://x.com/pulte/status/1943752238482280562">https://x.com/pulte/status/1943752238482280562</a>

U.S. Director of Federal Housing Pulte Post On X "I had great conversations with industry today, including the CEO of Fidelity National Title. We will be collaborating with Fidelity, as we do with all willing industry participants! Thank you for your time and collaboration, Fidelity."

<a href="https://x.com/pulte/status/1943746831256621564">https://x.com/pulte/status/1943746831256621564</a>
<figure class="image"><img src="https://pbs.twimg.com/media/GvmTcEMWIAAOGjI?format=jpg&amp;name=small" alt="Image" /></figure>

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U.S. Director of Federal Housing Pulte Post On X "Statement from Chairman of the Board of Fannie Mae on Reports that Jerome Powell Is Considering Resigning. Washington, D.C. - 'I'm encouraged by reports that Jerome Powell is considering resigning. I think this will be the right decision for America, and the economy will boom.'"

The average long-term U.S. mortgage rate has risen, marking the end of a five-week downward trend. Despite this increase, experts predict that mortgage rates will remain relatively stable in the coming months.
What Happened: The average rate for a 30-year U.S. mortgage increased to 6.72% from 6.67% last week, as <a href="https://abcnews.go.com/Business/wireStory/average-long-term-us-mortgage-rate-rises-672-123649632">reported</a> by ABC News via mortgage buyer Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>).
This increase follows five consecutive weeks of falling borrowing costs for homebuyers. The average rate on 15-year fixed-rate mortgages, a popular choice for homeowners looking to refinance, also rose to 5.86% from 5.80%.
The housing market has been slow since 2022, when mortgage rates started climbing from their pandemic-era lows. Higher rates have made borrowing more expensive, reducing buyers' purchasing power and dampening home sales.
Mortgage rates are shaped by factors like the Federal Reserve's interest rate policies and investors' outlook on inflation and the economy.
See Also: <a href="https://benzinga.com/crypto/cryptocurrency/25/07/46348529/xrp-breaks-above-2-40-for-first-time-since-may-how-high-can-it-go" target="_blank" rel="noopener">XRP Breaks Above $2.40 For First Time Since May: How High Can It Go?</a>
Economists largely anticipate that mortgage rates will remain steady shortly, with projections suggesting the average 30-year mortgage rate will stay between 6% and 7% throughout the year. The 10-year Treasury yield, a key benchmark lenders use to set mortgage rates, rose to 4.37% by midday Thursday, up from 4.34% late Wednesday.
&#8220;Mortgage rates may come down modestly over the coming months but other economic headwinds — including the impact of tariffs on the prices of consumer goods, weaker labor market conditions and rising consumer debt — could be what continue to hold the housing market in the second half of 2025," said chief economist at Bright MLS, Lisa Sturtevant.
Why It Matters: The rise in mortgage rates follows a period of significant volatility in the bond market. In April, <a href="https://www.benzinga.com/markets/bonds/25/04/44774323/mortgage-rates-hit-7-1-as-bond-market-volatility-trade-tariffs-shake-markets">mortgage rates spiked to 7.1%</a>, their highest level in nearly two months, due to trade tariffs and economic surprises.
This led to a decline in home sales and mortgage applications, as high rates and economic uncertainty stifled demand.
It was also reported that home sales <a href="https://www.benzinga.com/news/econ-s/25/04/45022780/high-mortgage-rates-economic-uncertainty-rain-on-spring-home-buying-season">dropped sharply</a> in March as high interest rates and economic uncertainty dampened demand at the start of the spring buying season. Sales of previously owned homes fell 5.9% from February to an annualized rate of 4.02 million, according to the National Association of Realtors.
Mortgage applications also plunged during the period.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Mortgage Rates Inch Up To 6.72% After 5 Weeks Of Decline, But Experts See Stability Ahead

<a href="https://x.com/pulte/status/1942589271702962447" title="https://x.com/pulte/status/1942589271702962447">https://x.com/pulte/status/1942589271702962447</a>

U.S. Director of Federal Housing Pulte Posts On X "Effective today, to increase competition to the Credit Score Ecosystem and consistent with President Trump's landslide mandate to lower costs, Fannie and Freddie will ALLOW lenders to use Vantage 4.0 Score with no current requirement to build new infrastructure (stays Tri Merge)."

<a href="https://x.com/pulte/status/1940436083495620653?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg" title="https://x.com/pulte/status/1940436083495620653?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg">https://x.com/pulte/status/1940436083495620653?s=46&amp;t=dtUiyC3dUs5yGRgT9qYHWg</a>

U.S. Director Of Federal Housing FHFA Pulte Posts On X "U.S. Federal Housing and the Fannie Mae and Freddie Mac Chairman Calls on Congress to Investigate Jerome Powell"

Ark Invest, a leading investment management firm led by Cathie Wood, has highlighted a pivotal development set to bridge the world of blockchain-based capital with the substantial U.S. mortgage market.
What Happened: According to Nick Grous, an associate portfolio manager at Ark Invest, the recent directive from the Federal Housing Finance Agency (FHFA) instructing Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>) to consider cryptocurrency holdings, such as Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), for mortgage loan risk assessments marks &#8220;crypto's first step into U.S. housing: from wallets to mortgages.&#8221;
&#8220;This directive introduces a novel bridge between blockchain-based capital and the $12 trillion U.S. mortgage market,&#8221; Grous notes.
Looking at the potential scale, Grous references iEmergent's 2024 Home Mortgage Disclosure Act (HMDA) data, which reported around &#8220;6 million mortgage originations in the U.S. last year, valued at $1.82 trillion.&#8221;
Based on an average loan size of approximately &#8220;$340,000,&#8221; Ark Invest&#8217;s analysis suggests that &#8220;if just 5% of mortgage borrowers included crypto-based assets in their applications, ~305,000 would qualify for a mortgage in this new framework—supporting $100 billion in originations.&#8221;
He further projects that &#8220;each additional percentage point of adoption would increase mortgage loan volume by ~$20 billion.&#8221;
This regulatory development, according to Ark Invest, &#8220;aligns with ARK's thesis that crypto will reshape legacy financial systems with greater transparency, automation, and interoperability.&#8221;
See Also: <a href="https://www.benzinga.com/crypto/25/06/46089173/michael-saylor-offers-btc-credit-model-as-bill-pulte-pushes-crypto-for-fannie-mae-freddie-mac-could-bitcoin-soon-count-toward-mortgage-qualification">Michael Saylor Offers BTC Credit Model As Bill Pulte Pushes Crypto For Fannie Mae, Freddie Mac: Could Bitcoin Soon Count Toward Mortgage Qualification? </a>
Why It Matters: The FHFA&#8217;s directive, issued last week, represents a significant shift.
It allows for the inclusion of cryptocurrency holdings, specifically &#8220;only those held on U.S.-regulated centralized exchanges,&#8221; as assets in single-family mortgage loan risk assessments.
Crucially, this directive &#8220;does not require converting crypto to U.S. dollars and does not include crypto held in self-custodied wallets.&#8221;
It also mandates &#8220;risk controls, like accounting for crypto market volatility and limiting how much crypto can count toward reserves,&#8221; signaling a cautious yet forward-looking approach to integration.
Last week, Strategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Michael Saylor stepped forward to offer Strategy&#8217;s (formerly MicroStrategy) <a href="http://46089173/michael-saylor-offers-btc-credit-model-as-bill-pulte-pushes-crypto-for-fannie-mae-freddie-mac-could-bitcoin-soon-count-toward-mortgage-qualification">Bitcoin Credit Model</a> to support the initiative. 
Meanwhile, the Bitcoin Policy Institute <a href="https://www.btcpolicy.org/articles/the-powerful-fannie-mae-policy-change-to-unlock-bitcoin-based-mortgages">hails</a> this as a potential game-changer, stating that a tweak to Fannie Mae&#8217;s Selling Guide to recognize Bitcoin as collateral could unlock homeownership for millions, aligning with Donald Trump&#8217;s vision to make the U.S. the &#8220;Bitcoin Capital of the planet.&#8221;
Price Action: Fannie Mae shares ended 1.95% lower on Monday. It has risen by 177.33% on a year-to-date basis and 553.42% over the past year.
On the other hand, Freddie Mac declined 1.55% on Monday, and it has risen by 144.51% on a year-to-date basis and 505.88% over the past year.
After hitting fresh records on Friday and Monday, on Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, were lower in premarket. The SPY was down 0.18% at $616.74, while the QQQ declined 0.26% to $550.18, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Image Via Shutterstock

$ETH

MSTR

Bitcoin, Ethereum Could Soon Help You Get A Mortgage — Cathie Wood's Ark Invest Sees $12 Trillion Opportunity After FHFA Move

<a href="https://x.com/pulte/status/1938659666885779503" rel="noopener noreferrer" target="_blank">https://x.com/pulte/status/1938659666885779503</a>
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<a href="https://x.com/pulte/status/1938659896024551438" title="https://x.com/pulte/status/1938659896024551438">https://x.com/pulte/status/1938659896024551438</a>

U.S. Director of Federal Housing FHFA Bill Pulte Posts On X "We are doing a full scale review of all credit bureaus.", On High Interest Rates Says "It's not just people's mortgages. It's car loans, credit cards, etc. These decisions have real impacts on real people."

<a href="https://x.com/pulte/status/1938280767370502643">https://x.com/pulte/status/1938280767370502643</a>
<figure class="image"><img src="https://pbs.twimg.com/media/GuYoFToWkAAHf6p?format=jpg&amp;name=small" alt="Image" /></figure>

U.S. Director Of Federal Housing FHFA Bill Pulte Posts On X "One of Fannie & Freddie's most undervalued assets is a little known company "CSS". It being little known changes TODAY! We've created U.S. Fin Tech to hold CSS and sell our MBS Fin Tech Services to others - thanks to President Trump, this will unlock so much value for America!"

In a landmark decision, Federal Housing Finance Agency Director William Pulte announced plans to consider cryptocurrency as a mortgage asset on Wednesday, aligning with President Donald Trump&#8217;s vision of making the U.S. a global crypto hub.
What Happened: Pulte took to X, directing federally backed mortgage giants Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>)&nbsp;to prepare their businesses to&nbsp;count cryptocurrency as an asset&nbsp;for a mortgage. 
Pulte said the decision was undertaken after &#8220;significant studying&#8221; and in line with Trump&#8217;s vision of making America the <a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43836911/trump-reiterates-resolve-to-make-us-the-crypto-capital-critic-labels-idea-of-bitcoin-reserve-legislation-absurd">crypto capital of the world</a>.
The directive asked Fannie and Freddie to consider only those assets that can be stored on a U.S.-regulated cryptocurrency exchange, subject to applicable laws.
FHFA said that the new consideration could enable Fannie and Freddie to assess the full spectrum of assets available for reserves and facilitate &#8220;sustainable homeownership to creditworthy borrowers.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">After significant studying, and in keeping with President Trump's vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage. SO ORDERED <a href="https://t.co/Tg9ReJQXC3">pic.twitter.com/Tg9ReJQXC3</a>
&mdash; Pulte (@pulte) <a href="https://twitter.com/pulte/status/1937944964656152800?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote>
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Fannie and Freddie play a crucial role in the U.S. mortgage market and both set the industry standards that all other home lenders follow.
See Also:&nbsp;<a href="https://benzinga.com/crypto/cryptocurrency/25/06/46107720/trump-family-backed-world-liberty-financial-plans-to-launch-a-new-app-that-will-make-it-easy-for-lay-investors-to-use-crypto" target="_blank" rel="noreferrer noopener">Trump Family-Backed World Liberty Financial Plans To Launch A New App That Will Make It Easy For Lay Investors To Use Crypto</a>
Why It Matters: The directive comes just a day after Michael Saylor offered help with&nbsp;Strategy Inc.‘s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) Credit Model to support the consideration by FHFA. 
Saylor congratulated Pulte on the development, deeming it the moment when Bitcoin &#8220;entered the American dream.&#8221; However, it should be noted that the directive was not restricted to Bitcoin.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Congratulations. Future generations will remember this as the moment Bitcoin entered the American dream.
&mdash; Michael Saylor (@saylor) <a href="https://twitter.com/saylor/status/1937971901835387334?ref_src=twsrc%5Etfw">June 25, 2025</a></blockquote>
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This move comes after the U.S. housing market recorded its slowest May for existing-home sales since 2009. According to the&nbsp;<a href="https://www.benzinga.com/news/macro-notification/25/06/46070420/us-home-sales-sink-to-slowest-may-since-2009-as-mortgage-rates-and-record-prices-keep-buyers-on-the-sidelines">National Association of Realtors</a>, sales slipped 0.7% from a year earlier to an annual rate of 4.03 million, leaving activity about 25% below pre-pandemic norms.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $107,727.37, up 1.41% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.&nbsp;
Shares of Strategy were up 0.19% in after-hours trading after closing 4.33% higher at $154.31 during Wednesday&#8217;s regular trading session.
MSTR stock demonstrated a strong Momentum score but ranked low in Growth and Value. Visit <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>. to compare the top cryptocurrency stocks based on these parameters. 
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound"><img loading="lazy" decoding="async" width="557" height="346" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26021419/image-392.png" alt="" class="wp-image-962566" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26021419/image-392.png 557w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/06/26021419/image-392-300x186.png 300w" sizes="(max-width: 557px) 100vw, 557px" /></a></figure>
Photo Courtesy: sundaemorning on Shutterstock.com
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Regulations

Fannie And Freddie Directed To Consider Crypto Mortgages By US Housing Regulator, But Michael Saylor Thinks It's Only Bitcoin That Has 'Entered The American Dream'

<a href="https://www.bloomberg.com/news/articles/2025-06-25/fannie-freddie-ordered-to-find-ways-to-count-crypto-as-an-asset?srnd=homepage-americas" title="https://www.bloomberg.com/news/articles/2025-06-25/fannie-freddie-ordered-to-find-ways-to-count-crypto-as-an-asset?srnd=homepage-americas">https://www.bloomberg.com/news/articles/2025-06-25/fannie-freddie-ordered-to-find-ways-to-count-crypto-as-an-asset?srnd=homepage-americas</a>

Reported Earlier: 'Fannie, Freddie Ordered To Find Ways To Count Crypto As An Asset' -Bloomberg

The U.S. housing finance landscape may be on the brink of a huge shift as Federal Housing Finance Agency (FHFA) Director Bill Pulte, appointed in March 2025 under President Donald Trump, announced plans to study cryptocurrency holdings, including Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), for mortgage qualifications.
Check out the current price of <a href="https://benzinga.com/quote/fnma">FNMA stock here</a>.
What Happened: This move has sparked widespread interest and debate, with Strategy Inc.&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) Michael Saylor stepping forward to offer Strategy's (formerly MicroStrategy) Bitcoin Credit Model to support the initiative.
Pulte, a known Bitcoin advocate and grandson of Pulte Homes' founder, oversees the FHFA, which regulates $7.5 trillion in mortgage-backed securities through Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>).
His post has ignited hope among crypto enthusiasts. &#8220;We will study the usage of cryptocurrency holdings as it relates to qualifying for mortgages,&#8221; with Saylor responding by sharing a model assessing BTC risk based on price volatility, loan duration, and collateral coverage.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">We have developed a BTC Credit model that we are happy to share. It takes into account Loan Duration, Collateral Coverage, BTC Price, BTC Volatility, and BTC ARR outlook to generate statistical BTC Risk and BTC Credit spreads. Try it now on our website:<a href="https://t.co/uTlyGWdoMu">https://t.co/uTlyGWdoMu</a>
&mdash; Michael Saylor (@saylor) <a href="https://twitter.com/saylor/status/1937425039114272842?ref_src=twsrc%5Etfw">June 24, 2025</a></blockquote>
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Meanwhile, the Bitcoin Policy Institute <a href="https://www.btcpolicy.org/articles/the-powerful-fannie-mae-policy-change-to-unlock-bitcoin-based-mortgages">hails</a> this as a potential game-changer, noting that 14% of Americans own Bitcoin, while close to 28% of Americans are said to own some kind of cryptocurrency. 
A tweak to Fannie Mae's Selling Guide to recognize Bitcoin as collateral could unlock homeownership for millions, aligning with Trump's vision to make the U.S. the "Bitcoin Capital of the planet."
See Also: <a href="https://www.benzinga.com/real-estate/25/06/46088531/too-many-home-sellers-fewer-buyers-experts-predict-housing-prices-to-fall-in-2025-without-a-fed-put-i">Too Many Home Sellers, Fewer Buyers: Experts Predict Housing Prices To Fall In 2025 Without A Fed Put In Place</a>
Why It Matters: As highlighted by the Bitcoin Policy Institute, due to Fannie Mae and Freddie Mac&#8217;s significant financial influence in the mortgage market and indirect control by government entities, both set the industry standards that all other home lenders follow.
Fannie Mae and Freddie Mac&#8217;s securitization guidelines for lenders often become the unofficial rules for the entire mortgage industry.
&#8220;If Fannie Mae amended key language in their Selling Guide (SEL-2022-04) on virtual currencies, it would unlock the ability for Americans to use bitcoin as collateral for home loans,&#8221; stated the Bitcoin Policy Institute note.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Tuesday. The SPY was up 1.10% at $606.78, while the QQQ advanced 1.53% to $539.78, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
The futures of the S&amp;P 500, Dow Jones and the Nasdaq 100 indices were flat on Wednesday.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Michael Saylor Offers BTC Credit Model As Bill Pulte Pushes Crypto For Fannie Mae, Freddie Mac: Could Bitcoin Soon Count Toward Mortgage Qualification?

Arthur Hayes, Chief Investment Officer of Maelstrom and co-founder of BitMEX, stuck to his $250,000 year-end price target and $1 million by 2028 for Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in a recent interview, driven by trillions worth of fiat liquidity injection.
What Happened: In an interview dated June 17, Hayes was asked if he maintains the projection he has made quite frequently in the last few months.
&#8220;I think that we get&nbsp;to $250,000 by the end&nbsp;of the year. It&#8217;ll&nbsp;be bumpy along the way,&nbsp;obviously, but that&#8217;s&nbsp;sort of my end-of-year price&nbsp;target,&#8221; the Bitcoin bull responded.
Hayes stated that the increase in credit and fiat liquidity, particularly from <a href="https://www.benzinga.com/money/fannie-mae-vs-ginnie-mae">U.S. mortgage entities</a> Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>), would eventually find its way into the cryptocurrency market, driving up Bitcoin&#8217;s price.
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&#8220;They&#8217;re going to print in the realm of $9 trillion-ish dollars between now and and that period of time [2028]. Fanny and Freddy, the government support entities that are allowed to create mortgages in the US, will print $5 trillion,&#8221; he said.
He added that banks would end up purchasing somewhere around $1 trillion and due to the <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/45716143/trump-administration-set-to-ease-big-bank-rules-in-major-rollback-since-2008-crisis-here-are-the-stocks-and-etfs-investors-could-consider">supplementary leverage ratio exemption</a>, they will be able to lend more. 
&#8220;And so you&#8217;re going to see the amount of loans going to manufacturing firms increase which is again an increase in credit and that will make its way into crypto as well,&#8221; Hayes remarked.
On the topic of Strategic Bitcoin Reserve, Hayes argued it won&#8217;t be &#8220;politically palable&#8221; for the government to buy Bitcoin. 
&#8220;If you create all this money and you could spend it on anything you want, surely spending it on buying Bitcoin is probably not going to be the best way to get votes,&#8221; he said. See Also:&nbsp;<a href="https://benzinga.com/markets/cryptocurrency/24/12/42716882/dogecoin-could-surge-7185-in-2025-top-analyst-delivers-bold-forecast-is-23-in-the-cards-for-the-good-boy" target="_blank" rel="noreferrer noopener">Dogecoin Could Surge 7185% In 2025, Top Analyst Delivers Bold Forecast: Is $23 In The Cards For The Good Boy? &#8211; Benzinga</a>
Why It Matters: Hayes has emphasized the importance of <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44510762/arthur-hayes-on-bitcoin-trading-focus-on-fiat-liquidity-not-price-targets">fiat liquidity growth</a> over specific price targets for Bitcoin, advising traders to consider the expectations and realities of money printing.
He remains <a href="https://www.benzinga.com/crypto/25/06/46045060/bitcoin-ethereum-dogecoin-fall-as-us-involvement-in-iran-israel-war-threatens-oil-prices-spike-arthur-hayes-says-weakness-shall-pass-and-btc-will-show-its-safe-haven-status">confident about Bitcoin&#8217;s potential</a> despite the leading cryptocurrency&#8217;s recent dip below $100,000 due to geopolitical tensions.
&#8220;This weakness shall pass and BTC will leave no doubt as to its safe haven status,&#8221; he said.
Price Action:&nbsp; At the time of writing, BTC was exchanging hands at $106,474.53, up 0.66% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.
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</ul>
Photo: Shutterstock

Arthur Hayes Doubles Down On $250,000 Bitcoin Call — Sees $1 Million By 2028

Fannie Mae (Federal National Mortgage Association) (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTCQB">FNMA</a>) and Freddie Mac (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTCQB">FMCC</a>) might finally be headed for an exit from government conservatorship, almost 17 years after being taken over by the federal government in the <a href="https://www.benzinga.com/markets/25/01/42808169/hedge-fund-star-who-profited-big-in-2008-financial-crisis-is-betting-big-on-current-market-volatility-risk-prices-have-come-down">2008 financial crisis.</a>
The two giant housing finance companies, long lingering in regulatory limbo, are again generating investor enthusiasm as word circulates that President Donald Trump is considering allowing them to return to public markets.
Also Read: <a href="https://www.benzinga.com/etfs/sector-etfs/25/06/46001274/alibabas-high-speed-comeback-the-ai-commerce-cocktail-lifting-etf-hopes?utm_campaign=Watchlist&amp;utm_source=Benzinga&amp;utm_medium=Email">Alibaba&#8217;s High-Speed Comeback: The AI-Commerce Cocktail Lifting ETF Hopes</a>
With the over-the-counter stocks of Fannie and Freddie skyrocketing so far this year, up over 190% and 140%, respectively, investors are racing to figure out how to position themselves. Although there isn&#8217;t an ETF directly tracking these two government-sponsored enterprises (GSEs), multiple ETFs provide indirect exposure to the changing housing finance story.
<h2 class="wp-block-heading">The ETF Play: Indirect Exposure To GSE Reboot</h2>
No ETF actually owns shares of Fannie or Freddie, as they now trade over the counter and are still under federal control. But the following ETFs would potentially be affected by shifts in their status:
iShares MBS ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBB#NASDAQ">MBB</a>)
Exposure: Agency mortgage-backed securities
Why it&#8217;s relevant: Fannie and Freddie stand behind many MBS in the U.S. Shocks to their structure, credit health, or guarantees may affect valuations of MBS and yield profiles.
SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>)
Exposure: Mid-sized lenders
Why it&#8217;s relevant: The regional banks are significantly dependent on the GSEs to securitize mortgages and cover their lending risk. A change in Fannie and Freddie&#8217;s business model would impact their credit standards and liquidity.
iShares U.S. Financial Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYG#NYSE">IYG</a>)
Exposure: Broad financials, including mortgage lenders and insurers
Why it&#8217;s relevant: Large mortgage lenders and insurance players might feel knock-on consequences in terms of origination volumes, risk-sharing, and costs if Fannie and Freddie reverse their move back to public companies.
<h2 class="wp-block-heading">Why The Comeback Matters</h2>
Fannie and Freddie are instrumental in the U.S. housing market by buying mortgages from banks and aggregating them into securities. Fannie and Freddie mortgage-backed securities (MBS) are widely owned by banks, insurers, and institutional investors. Following the collapse of the housing market in 2008, the Federal Housing Finance Agency (FHFA) put both GSEs into conservatorship, and profits went directly to the U.S. Treasury.
Today, though, with the housing markets strained, discussions on terminating the conservatorship have revived. A restructured, publicly traded Fannie and Freddie could remake mortgage access, investor perceptions, and the fixed income universe.
As the conservatorship conversation heats up, so too will the spotlight on these ETFs. Because when the twin titans of housing finance make a move, even from the shadows, the entire market listens.
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Photo: Mehmet0/Shutterstock

Sector ETFs

ETFs

iShares Trust Dow Jones US Financial Services Index Fund

How To Invest In Fannie Mae's Comeback With Housing-Focused ETFs

Billionaire hedge fund manager Bill Ackman is once again highlighting what he sees as one of the Federal Government&#8217;s most overlooked assets, its stake in mortgage finance giants, the Federal National Mortgage Association (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) or Fannie Mae, and the Federal Home Loan Mortgage Corporation (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>), or Freddie Mac.
What Happened: Speaking at the 2025 Forbes Iconoclast Summit last week, Ackman called them &#8220;two remarkable businesses,&#8221; referring to their $7 trillion in mortgage guarantees, on which they collect 65 basis points in annual fees. 
According to Ackman, the founder of Pershing Square Holdings Ltd. (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PSHZF#OTC">PSHZF</a>), &#8220;the government's interest in Fannie and Freddie is worth approaching $300 billion,&#8221; but he believes they are not going to give it up, while criticizing their 16-year-long conservatorship which prevents them from operating as private corporations.
Both firms were brought under the control of the Federal Housing Finance Agency (FHFA) following their bailout in 2008, and what was initially intended as a temporary measure to stabilize the housing market has since become a permanent arrangement.
See Also: <a href="https://www.benzinga.com/markets/market-summary/25/06/45829717/us-china-trade-war-american-kids-to-get-fewer-costlier-dolls-this-christmas-heres-why">US-China Trade War: American Kids To Get Fewer, Costlier Dolls This Christmas, Here&#8217;s Why</a>
Ackman, who was short both companies during the 2008 financial crisis, reversed course in 2012 and has since become one of their most prominent advocates. 
He argues that Fannie and Freddie are now well-capitalized and far safer than they were before the crash, and could help offset the ballooning federal deficits if returned to private hands.
Critics of privatization argue that ending government control could push mortgage rates higher, as the removal of an explicit federal guarantee might lead investors to demand a higher risk premium on mortgage-backed securities.
Ackman, however, has pushed back against this, saying that Fannie Mae and Freddie Mac are now much better placed, with capital ratios above 2.5%, compared to 0.45% pre-crisis, which he thinks &#8220;would have been enough during the financial crisis had they not gone into subprime.&#8221;
He also emphasized the systemic protections in place, such as &#8220;a belt, suspenders, another belt, and more suspenders,&#8221; referencing the firms' capital levels, backstops from the Treasury, and robust earnings power.
Why It Matters: Ackman&#8217;s Pershing Square has been the largest common stockholder in both entities for 13 years and has been a vocal advocate for ending the conservatorship for some time.
Recently, he <a href="https://www.benzinga.com/markets/equities/25/06/45764818/bill-ackman-urges-end-to-fannie-mae-freddie-mac-conservatorship-says-will-enable-them-to-operate-more-successfully-and-efficiently">called for the cancellation</a> of $348.2 billion in Senior Preferred Stock liability on the company&#8217;s balance sheets, which he labeled as &#8220;fictitious.&#8221;
He said, &#8220;The government has been paid more than it was contractually owed under the extremely onerous terms of the SPS,&#8221; referring to the $301 billion being paid back of the original $191 billion invested by the government, resulting in an 11.6% annualized return for taxpayers. 
Ackman had, in fact, recommended both companies as investments back in December, saying that he expects them to exit conservatorship <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">under the Trump administration</a>, while adding that he sees &#8220;large asymmetric upside versus downside,&#8221; which sent the stocks soaring.
Just as he had predicted two weeks ago, President Donald Trump said that he was giving &#8220;very serious consideration&#8221; to taking <a href="https://www.benzinga.com/news/financing/25/05/45557031/trump-considers-taking-fannie-mae-freddie-mac-public-calls-mortgage-giants-very-profitable-says-timing-seems-right">Fannie Mae and Freddie Mac public</a>.
&#8220;Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right,&#8221; Trump said.
Price Action: Shares of Pershing Square Holdings were down 0.31% on Friday, trading at $52.62, while Fannie Mae and Freddie Mac were up 0.67% and 4.17% during the day, respectively.
Photo Courtesy: Tada Images on Shutterstock.com
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<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Billionaire Bill Ackman&#039;s Key to Long Term Investment Success" width="500" height="281" src="https://www.youtube.com/embed/X_D_JbcxM5M?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Equities

PSHZF

Bill Ackman Says US Sitting On A $300 Billion Gold Mine With Freddie Mac And Fannie Mae—But 'The Government's Not Going To Give It Up'

Billionaire hedge fund manager Bill Ackman is advocating for Fannie Mae (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTC">FNMA</a>) and Freddie Mac (OTC:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTC">FMCC</a>) to exit federal conservatorship, a status they've held since the 2008 financial crisis, arguing it would benefit the U.S. housing finance system.
What Happened: In a detailed post on X, Ackman, whose Pershing Square has been the largest common stockholder of both companies for 13 years, specifically calls for the cancellation of the $348.2 billion Senior Preferred Stock (SPS) liability on the companies' balance sheets, labeling it a "fictitious" figure that distorts economic reality.
A federal conservatorship refers to a legal process where a government agency takes control of a private entity, typically a financial institution, to stabilize it, protect its stakeholders, and ensure it can continue to operate during a crisis. Fannie Mae and Freddie Mac have been in conservatorship since 2008.
&#8220;We believe that F2&#8217;s exit from conservatorship will enable the GSEs (Government-Sponsored Enterprises) to operate more successfully and efficiently, with more stable management and at lower cost, greatly benefiting our housing finance system,&#8221; he said.
Meanwhile, an SPS liability mandates a company to prioritize payments to the senior preferred stockholder, the U.S. Treasury, in this case, over other stakeholders.
Ackman claims the government has been overpaid, stating, "F2 repaid $301 billion of the original $191 billion invested by the government," generating an 11.6% return for taxpayers.
According to him, the SPS balance, inflated by the Obama-era 2012 Net Worth Sweep, which siphoned all profits to the Treasury, preventing the companies from achieving their full market value.
"The government has been paid more than it was contractually owed under the extremely onerous terms of the SPS," Ackman asserts, emphasizing that canceling this liability isn't a gift to shareholders but a necessary correction. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Recently, there have been a number of media stories suggesting that Fannie Mae and Freddie Mac (together referred herein as "F2") shareholders are seeking forgiveness of money that is ostensibly owed by F2 to the government in connection with their potential release from…
&mdash; Bill Ackman (@BillAckman) <a href="https://twitter.com/BillAckman/status/1930108923131945257?ref_src=twsrc%5Etfw">June 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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See Also:&nbsp;<a href="https://www.benzinga.com/markets/treasuries/25/06/45739830/us-dollar-decouples-with-10-year-treasuries-as-trade-tensions-change-long-standing-relationships-between-asset-classes">US Dollar Decouples With 10-Year Treasuries As Trade Tensions Change Long-Standing Relationships Between Asset Classes</a>
Why It Matters: The move would also benefit taxpayers, highlights Ackman, as the government holds a 79.9% stake in Fannie and Freddie via warrants, ensuring significant returns on any value increase post-conservatorship.
Ackman warns, "No private sector investor will invest in F2 if the government can unilaterally revise the terms of F2's liabilities at will," underscoring the need for trust in the market.
Thus, he believes that releasing Fannie Mae and Freddie Mac from conservatorship and canceling their SPS liability will enable them to operate more efficiently, reduce costs, and stabilize the housing finance system, ultimately benefiting the housing market.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose on Tuesday. The SPY was up 0.57% at $596.09, while the QQQ advanced 0.78% to $527.30, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
The futures of the S&amp;P 500, Dow Jones and the Nasdaq 100 indices were flat on Wednesday.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. 
Photo courtesy: Tada Images / Shutterstock.com

Bill Ackman Urges End To Fannie Mae, Freddie Mac Conservatorship: Says Will Enable Them To 'Operate More Successfully And Efficiently'

<a href="https://www.cnbc.com/live-tv/" title="https://www.cnbc.com/live-tv/">https://www.cnbc.com/live-tv/</a>

Live On CNBC FHFA Director Bill Pulte Says: Fannie Mae And Freddie Mac Could Be Worth Trillions of Dollars

Shares of Fannie Mae Inc. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/FNMA#OTCQB">FNMA</a>) and Freddie Mac Inc. (OTCQB:<a class="ticker" href="https://www.benzinga.com/stock/FMCC#OTCQB">FMCC</a>) are trading higher Thursday after President Donald Trump said he is seriously considering<a href="https://www.benzinga.com/news/financing/25/05/45557031/trump-considers-taking-fannie-mae-freddie-mac-public-calls-mortgage-giants-very-profitable-says-timing-seems-right"> taking the mortgage giants public. </a>
What To Know: In a Truth Social post, Trump called the government-sponsored enterprises "very profitable" and said the timing "seems right" to privatize them. He added that he would consult with top officials, including Treasury Secretary Scott Bessent and FHFA Director William Pulte, before making a decision.
The rise in both stocks follows years of speculation about the future of Fannie and Freddie, which have remained under federal conservatorship since the 2008 financial crisis. Though profitable and backed by private shareholders, the companies have been under tight government control for more than 15 years. They buy mortgages from lenders and repackage them into mortgage-backed securities, supporting nearly half of the U.S. residential mortgage market.
Trump's remarks come amid recent upheaval at the Federal Housing Finance Agency. Director Pulte recently fired Freddie Mac's CEO, dismissed 14 board members from both institutions, and appointed himself chairman of both entities. The shakeup suggests a shift toward more direct federal control ahead of potential privatization.
The surge also follows a new tender offer from Fannie Mae for its Connecticut Avenue Securities notes and Freddie Mac's latest mortgage rate update showing a slight uptick in 30-year fixed rates to 6.86%. Market watchers also noted support from influential investors like Bill Ackman, who has said the companies are primed to exit conservatorship under a Trump administration.
With no final decision announced, speculation is driving the rally. Traders are reacting to the possibility of long-awaited structural changes at the heart of the U.S. housing finance system, potentially setting the stage for one of the biggest public offerings in years.
Price Action: Fannie Mae shares are up 42.4% at $10.60 and Freddie Mac shares were up 41.1% at $8.00 at the time of writing, according to <a href="https://pro.benzinga.com/dashboard?new_user=False&amp;backend=google-oauth2">Benzinga Pro.</a>
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Image Via Shutterstock.

Fannie Mae, Freddie Mac Stocks Surge On Trump Privatization Remarks: What's Going On?

President Donald Trump announced Wednesday he is giving &#8220;very serious consideration&#8221; to taking mortgage finance giants Fannie Mae and Freddie Mac&nbsp;public, signaling potential privatization of the government-sponsored enterprises.
What Happened: In a Truth Social post, Trump said he will consult with Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Federal Housing Finance Agency Director William Pulte before making a decision. &#8220;Fannie Mae and Freddie Mac are doing very well, throwing off a lot of CASH, and the time would seem to be right,&#8221; Trump stated.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://t.co/kJK33mcTh3">pic.twitter.com/kJK33mcTh3</a>
&mdash; U.S. Federal Housing (FHFA) (@FHFA) <a href="https://twitter.com/FHFA/status/1925335513386324136?ref_src=twsrc%5Etfw">May 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The mortgage giants, which underpin approximately half of the U.S. residential mortgage market, have generated substantial cash flows since their 2008 conservatorship, according to Reuters. Both companies operate as for-profit corporations with private shareholders, purchasing home loans from private lenders and repackaging them as mortgage-backed securities.
See Also: <a href="https://www.benzinga.com/news/earnings/25/05/45553121/snowflake-q1-earnings-revenue-eps-beat-estimates-ai-data-cloud-company-sees-25-growth-ahead-shares-climb">Snowflake Q1 Earnings: Revenue, EPS Beat Estimates, AI Data Cloud Company Sees 25% Growth Ahead, Shares Climb</a>
Why It Matters: Fannie Mae and Freddie Mac were placed under Federal Housing Finance Agency conservatorship during the 2008 financial crisis after suffering overwhelming losses from the housing market collapse. The government intervention prevented catastrophic economic effects but maintained federal control over the entities.
FHFA Director Bill Pulte recently fired Freddie Mac CEO Diana Reid and placed senior FHFA officials on administrative leave. Pulte also dismissed 14 board members from both companies and <a href="https://www.benzinga.com/politics/25/03/44436692/fannie-mae-freddie-mac-in-upheaval-as-trump-administration-considers-privatizing-mortgage-giants">appointed himself chairman of both entities</a>.
Billionaire investor Bill Ackman of Pershing Square Capital Management has <a href="https://www.benzinga.com/general/social-media/24/12/42734220/bill-ackman-sends-fannie-mae-freddie-mac-stocks-soaring-trump-likes-big-deals">recommended both companies as investments</a>, stating in December that he expects them to exit conservatorship under the Trump administration. &#8220;Trump likes big deals and this would be the biggest deal in history,&#8221; Ackman wrote.
Image Via Shutterstock
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Financing

Trump Considers Taking Fannie Mae, Freddie Mac Public, Calls Mortgage Giants 'Very Profitable,' Says Timing Seems Right

<a href="https://nationalmortgageprofessional.com/news/moodys-downgrades-fannie-and-freddie-following-us-sovereign-credit-cut" title="https://nationalmortgageprofessional.com/news/moodys-downgrades-fannie-and-freddie-following-us-sovereign-credit-cut">https://nationalmortgageprofessional.com/news/moodys-downgrades-fannie-and-freddie-following-us-sovereign-credit-cut</a>

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