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.
Executives from Annaly and Two Harbors worry that ending the conservatorships of the GSEs could fundamentally change the buyer base for their mortgage-backed securities.
According to FHFA’s inspector general, the Division of Enterprise Regulation has been steadily working with Freddie Mac to remedy deficiencies in the enterprise’s risk management.
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.
Senate Banking Committee members seek clarity over HUD Secretary Scott Turner’s statement that he would lead the process of ending the conservatorships of Fannie Mae and Freddie Mac.
It will be the 11th issuance of its type by loanDepot.
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