Trump Business Ally Omeed Malik Joins Fannie Mae Board

A Trump business ally is joining Fannie Mae’s Board of Directors as the administration continues to weigh the privatization of the GSEs.

Omeed Malik is a co-founder of 1789 Capital.

“Omeed is honored to join the board of Fannie Mae to support President Trump’s agenda to make the housing market more affordable and prosperous in the United States,” a spokesman for Malik said.

Federal Housing Finance Agency Director Bill Pulte announced the move in a post on X.

“Under President Trump, housing will enter its Golden Age. To have the best and brightest, Omeed Malik will be joining the Board of Fannie Mae, effectively immediately! Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!” the post reads.

Bloomberg reported that Pulte and Malik have ties. His office has admitted to investing in GrabAGun, an online firearms retailer that Malik will be taking public through his special purpose acquisition company.

The GSEs are a major political area for the Trump administration. Removing Fannie and Freddie from conservatorship has been a go-to talking point, and markets tend to believe they could be released within the next four years.

“I, along with a good number of people, believe the GSEs will be released from conservatorship,” Michael Calhoun, president of the Center for Responsible Lending, said. “The market is betting pretty heavily that will happen.”

But analysts and politicians alike have noted that privatizing them will require extreme caution to prevent major pain in the housing market.

Pulte himself testified to Congress that releasing the entities must be “carefully planned” to avoid sky-high rates and market trauma.