The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
Three Democrats joined Senate Republicans in a vote to make Bill Pulte, the grandson of the founder of homebuilding giant PulteGroup, the chief regulator of Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
Although little is known about Pulte’s policy positions, his housing and philanthropic background have helped him win the support of most industry trade groups and many consumer advocacy organizations.
A 2021 SCOTUS decision made FHFA just another agency of the executive branch. That means Trump can meddle with any GSE policies and programs he chooses.
A coalition of the leading affordable housing organizations in America gave Fannie Mae a C minus for its duty-to-serve plan. Freddie Mac got a B minus.
After suddenly stepping down as CEO of the Federal Home Loan Bank of San Francisco, the former Ginnie president showed up in Washington to tout the benefits of the home loan bank system.
Responding to written questions from the Senate Banking Committee, Trump’s new Treasury secretary gave the mortgage industry limited insight into his views on GSE reform.