U.S. President Donald Trump's administration is aiming for the initial public offerings of mortgage finance giants Fannie Mae and Freddie Mac later this year, The Wall Street Journal reported Friday.

Fannie Mae and Freddie Mac have been under federal conservatorship since 2008 following the financial crisis, during which both entities became insolvent amid the subprime mortgage meltdown.

Trump met the CEOs of Citigroup and Bank of America earlier this week to discuss the administration's plans to privatize Fannie Mae and Freddie Mac, Reuters had reported earlier.

Fannie Mae and Freddie Mac did not immediately respond to a Reuters request for comment on the Journal report.