News

GSE Update: Sen. Warren Asks for Roundtable Details

September 30, 2025

In a Sept. 24 letter, Senate Banking Committee Ranking Member Elizabeth Warren (D-MA) asked Treasury Secretary Scott Bessent for more details on a potential Fannie Mae and Freddie Mac (GSEs) privatization. 

Why it matters: Treasury and the Federal Housing Finance Agency (FHFA) have been holding roundtables with industry stakeholders—including CREFC—on potentially ending the conservatorship and re-privatization. 

What they’re saying: Warren referenced comments by President Trump, Bessent, Commerce Secretary Howard Lutnick, and FHFA Director Bill Pulte and urged Bessent to involve Congress in the discussion. In a direct criticism of Pulte, Warren’s letter hinted at a lack involvement from FHFA and coordination among administration officials:

I have been led to the conclusion, however, that FHFA Director Pulte may have no information, insight, or answers on the topic, in part due to his focus on ousting members of the Federal Reserve Board of Governors and certain Democratic leaders.

What’s next: Warren posed nine questions on the GSE effort and asked for a response by October 8. 

  • While senior administration officials keep hinting at an IPO in the near-term, Congress and others remain skeptical of major action this year.
  • Treasury’s roundtables indicate GSE reform is a priority, though the plan for government involvement from a guarantee and regulatory oversight perspective remain elusive.
Contact Sairah Burki (sburki@crefc.org) and David McCarthy (dmccarthy@crefc.org) with any questions.

Contact 

Sairah Burki
Managing Director,
Head of Regulatory Affairs and Sustainability
703.201.4294
sburki@crefc.org

David McCarthy
Managing Director,
Chief Lobbyist, Head of Legislative Affairs
202.448.0855
dmccarthy@crefc.org
Image of buildings
The information provided herein is general in nature and for educational purposes only. CRE Finance Council makes no representations as to the accuracy, completeness, timeliness, validity, usefulness, or suitability of the information provided. The information should not be relied upon or interpreted as legal, financial, tax, accounting, investment, commercial or other advice, and CRE Finance Council disclaims all liability for any such reliance. © 2025 CRE Finance Council. All rights reserved.

Become a Member

CREFC offers industry participants an unparalleled ability to connect, participate, advocate and learn!
Join Now

Sign Up for eNews

Subscribe