Pulte says he’s done making leadership changes at the GSEs

After a series of changes in leadership and programs at the Federal Housing Finance Agency (FHFA), Fannie Mae, and Freddie Mac, FHFA Director Bill Pulte reassured on social media that there would be no more executive leadership shifts at the government-sponsored enterprises (GSEs). Pulte shared on X that the focus will now be on growth, affordability of homes, combating mortgage fraud, and providing career opportunities at Fannie and Freddie. He also welcomed ideas for innovation at the GSEs, emphasizing the importance of bringing innovation to the organizations in a safe and sound manner.

Pulte’s message comes after recent events including the dismissal of Fannie Mae employees for unethical behavior and the cancellation of a significant amount of funding at the agencies. Since taking over as FHFA Director, Pulte has made significant changes to the boards of Fannie and Freddie, emphasizing the goal of removing them from conservatorship as a top priority.

The latest developments include the resignation of Grace Huebscher from Freddie Mac’s board and the appointment of Michael Parrott as Conservator on the Board, as well as the addition of Ralph “Cody” Kittle to the Audit Committee. Additionally, two FHFA departments were closed in March, leading to a reduction in the workforce.

Pulte recently announced the appointment of Omeed Malik to Fannie Mae’s board and the establishment of a new tip line to combat mortgage fraud, aligning with his initial objectives following his confirmation as FHFA Director.