For many Americans, the names Fannie Mae and Freddie Mac don’t come up often, except maybe during a mortgage application. The two government-sponsored enterprises provide stability and affordability in the housing market. However, the Trump administration has floated the idea of privatizing the enterprises. If that happens, it could change the cost and availability of your mortgage.
So, I asked ChatGPT to break down what borrowers like you should know if Fannie Mae or Freddie Mac goes public. Here’s what it said.
