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Following several months of leadership shakeups, program cuts and administrative announcements regarding the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac, FHFA Director Bill Pulte took to social media platform X on Monday morning to confirm that he does “not forsee” any more executive leadership changes at the government-sponsored enterprises (GSEs).
Pulte’s post read, “We do not foresee any more executive leadership changes at Fannie Mae & Freddie Mac. Our focus will now turn to growth, making homes more affordable, rooting out mortgage fraud, & providing great career opportunity [sic] to those who make Fannie & Freddie great American Icons, again!”
In a separate X post, Pulte also welcomed feedback regarding innovation at the GSEs. “We are actively working on new programs and new products at Fannie Mae and Freddie Mac. If you have ideas on what to do differently, please reach out! Innovation is the hallmark of American business, and we intend on bringing that to Fannie & Freddie, all safely and soundly!” the post read.
Pulte’s post marks a hopeful end to a string of several actions that have left the fates of both GSEs in limbo, namely the firing of 100 Fannie Mae employees due to unethical conduct and the canceling of $6.4 million in “DEI nonsense” at the agencies.
Since his confirmation as FHFA Director in early March, Pulte has made sweeping changes to Fannie and Freddie’s boards. He also made it clear that pulling Fannie Mae and Freddie Mac out of conservatorship is his top priority.
“For far too long, Fannie Mae and Freddie Mac have been underperforming (compared to where they should be at) as companies and in Safety and Soundness but now, thanks to President Trump and his Golden Age of Housing, we will fix it, Effective Immediately!” he posted on X shortly after his confirmation.
At the start of April, it was also confirmed that Capital One multifamily finance executive Grace Huebscher, who served as Chair of the Risk Committee and a member of several other committees, resigned from Freddie Mac‘s board on March 24. A subsequent securities filing confirmed that Huebscher was succeeded by Michael Parrott, who will act as Conservator on the Board. The same filing named Ralph “Cody” Kittle, a partner at investment firm RenWave Kore, to the Audit Committee of the Board of Directors of Freddie Mac.
According to a report from Government Executive, the FHFA also shuttered two of its departments in the middle of March, which resulted in a workforce cut of about 10%.
Just last week, Pulte announced via X that Omeed Malik joined Fannie Mae‘s board of directors. The FHFA also announced the establishment of a new tip line to target mortgage fraud, which circles back to Pulte’s original goals following his confirmation.
