In a major shakeup at the Federal Housing Finance Agency (FHFA), newly confirmed director Bill Pulte has swiftly restructured leadership at Fannie Mae and Freddie Mac. Pulte removed 14 board members from both entities, appointing himself as chairman alongside new members from hedge funds, real estate and technology sectors. The restructuring extends beyond leadership, as FHFA has laid off over 10% of its staff, particularly those in research and statistics roles, while preparing to bring in political appointees. Additionally, Pulte has issued a return-to-office mandate for FHFA employees, with similar directives expected at Fannie Mae and Freddie Mac. The National Association of Realtors (NAR) is closely monitoring the developments, emphasizing the need for a stable and efficient housing finance system to support affordability and housing supply.
Source: NAR; 3/20/2025