Pulte: No more surprise shakeups at Fannie, Freddie

Bill Pulte says there will be fewer surprises at Fannie Mae and Freddie Mac moving forward. 

The Federal Housing Finance Agency director posted to X Monday that the regulator doesn't foresee any more executive changes at the government-sponsored enterprises, other than "already agreed-upon departures." In swift action last month, Pulte reshuffled the boards of the GSEs, and fired Freddie Mac CEO Diana Reid. 

"Our focus will now turn to growth, making homes more affordable, rooting out mortgage fraud, & providing great career opportunity to those who make Fannie & Freddie great American Icons, again!" the director wrote in a social media post. 

Longtime Freddie Mac President Mike Hutchins is the GSE's interim CEO. It's unclear if Pulte plans to name him permanent CEO, and the FHFA didn't respond to an immediate request for comment Tuesday morning. 

Throughout the leadership changes, the director hasn't provided any clues regarding a potential GSE release from conservatorship, which investors have called for under President Trump's second term.

Pulte has disclosed numerous FHFA updates via his X feed, although the regulator hasn't been transparent regarding those moves. The agency has purportedly reduced its workforce by 25% and terminated an unspecified number of Fannie Mae employees for alleged fraud, but the GSEs are still hiring for dozens of positions. 

Fraud has been a focus of Pulte in his first month as director. He debuted a mortgage fraud tip line last week that the director claimed Tuesday had been receiving "amazing tips." In another X post Tuesday, Pulte said there were massive amounts of fraud under former President Biden's administration. 

The regulator is also mulling a way to "recall" loans, although no further details were released.