The Trump administration is preparing to sell stock in mortgage giants Fannie Mae and Freddie Mac in an offering it believes could raise around $30 billion and kick off later this year

President Donald Trump and his economic team are preparing for what could be a record-setting stock sale of Fannie Mae and Freddie Mac, the government-controlled mortgage giants that underpin stability and affordability in the U.S. housing market.

The Wall Street Journal first reported the plans, which have yet to be finalized. According to a senior administration official, the White House is considering an initial public offering of up to 15% of the companies’ shares, potentially raising $30 billion — an amount that could mark the largest IPO in history.

Trump has eyed such a move for years. His first administration attempted, unsuccessfully, to release Fannie and Freddie from government conservatorship. In his second term, he has revived the effort, writing on Truth Social in May that he was “giving very serious consideration to bringing Fannie Mae and Freddie Mac public” and would consult his cabinet before making a decision.

In recent weeks, Trump has met with top Wall Street executives — including JPMorgan’s Jamie Dimon, Goldman Sachs’ David Solomon, and Bank of America’s Brian Moynihan — to discuss a possible offering, according to a source familiar with the talks.

Republican allies have long pushed to end the conservatorship imposed during the 2008 financial crisis, which was meant to be temporary and helped keep the companies afloat during the housing meltdown. Supporters of privatization argue that Fannie and Freddie can thrive independently and that a public offering could generate much-needed revenue for a debt-laden federal government.