Sept 12 (Reuters) - Allies of Republican U.S.

presidential candidate Donald Trumps and bankers have been

discussing plans on ending U.S. government control of the

mortgage-finance firms Fannie Mae and Freddie Mac if he wins the

election, the Wall Street Journal reported on Thursday.

Trump confidants including former National Economic Council

director Larry Kudlow and former White house presidential

personnel office director John McEntee are among those involved

in the talks, the Journal reported.

Fannie Mae, Freddie Mac and the Trump campaign didn't

immediately respond to Reuters' requests for comments.

Trump allies have discussed having the Treasury Department

partially back some part of Fannie and Freddie loans through a

so-called standby guarantee, the report said.

One path to privatization includes assessing bypassing

congressional approval and instead proceeding through the

Federal Housing Finance Agency, which oversees Fannie and

Freddie, and the Treasury Department, the report said.

There have been attempts previously to free the government's

control over Fannie and Freddie, including some made under

Trump, which were all unsuccessful.

Fannie and Freddie were created by Congress and operate as

for-profit corporations with private shareholders, with the

mission of expanding the national home lending market by buying

home loans from private lenders and repackaging them as

mortgage-backed securities.