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The Mortgage Bankers Association (MBA) approves of Donald Trump’s nominee for director of the Federal Housing Finance Agency (FHFA).
In a letter addressed to the Senate Committee on Banking, Housing and Urban Affairs, the MBA gave a strong endorsement of Bill Pulte to lead the FHFA. In that role, Pulte would oversee government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac along with the Federal Home Loan Banks. The Senate banking committee has not yet scheduled a confirmation hearing on Pulte’s nomination.
The MBA’s letter is signed by Lennar Mortgage President and MBA Chair Laura Escobar, as wel as MBA President and CEO Bob Broeksmit.
“We believe he brings a wealth of real world, private sector experience to this role at a critical time for the housing GSEs,” the letter reads. “Mr. Pulte’s proven record qualifies him to lead this important agency. Our industry looks forward to working productively with Mr. Pulte, once confirmed, to help maintain the safety and soundness of the GSEs and our nation’s deep, liquid housing finance system — for the benefit of American renters and homeowners alike.”
The MBA points to Pulte’s experiences and accomplishments. He currently serves as CEO of Pulte Capital Partners, an investment fund that the MBA says has generated more than $100 million in returns. The group also notes that Pulte was a director at Pulte Homes, which gave him familiarity with homebuilding, mortgage, title and insurance operations.
MBA is not the only group to endorse Pulte. After Trump nominated him on Jan. 16, the Community Home Lenders of America (CHLA) came out in support too.
“CHLA congratulates Bill Pulte on the announcement that he will be nominated for FHFA Director. We look forward to working with him on the critical priorities of homeownership affordability and protecting smaller IMBs in any plan in which Fannie Mae and Freddie Mac exit conservatorship,” the statement read.
Broeksmit also released a statement after the nomination, citing Pulte’s support for taking the GSEs out of conservatorship. United Wholesale Mortgage (UWM) President and CEO Mat Ishbia also expressed his support, saying he believes Fannie and Freddie can benefit from innovation.
