Overview

• President Trump’s Truth Social post featured an AI image of a New York Stock Exchange listing dated November 2025 under the name The Great American Mortgage Corporation and ticker MAGA.
• The administration is preparing to sell between 5% and 15% of GSE shares to raise about $30 billion at an implied combined valuation near $500 billion.
• Senior officials have met one-on-one with major bank CEOs—including JPMorgan’s Jamie Dimon and Goldman Sachs’ David Solomon—to refine the offering structure and timeline.
• Analysts at Keefe, Bruyette & Woods and Wells Fargo assign only a roughly 40% chance of completing the IPO by year-end, citing capital level uncertainties and elevated execution risks.
• Any offering would maintain implicit U.S. government guarantees for Fannie Mae and Freddie Mac to ensure ongoing support for the mortgage market.