Inside the Conservatorship — FHFA, Pulte, and the Path to IPO

Freddie Mac has been in federal conservatorship under the FHFA since 2008 — the longest U.S. government conservatorship in modern history. Under FHFA Director Bill Pulte, the company is now preparing for a planned 2026 IPO that could raise $25-30 billion while remaining in conservatorship. This module gives candidates the political and structural context they need to navigate "Where do you see Freddie Mac going?" without missteps. It's foundational for understanding why nearly every strategic decision today is filtered through "safety, soundness, and IPO readiness."