Top execs reportedly fired at Freddie Mac, FHFA

The Federal Housing Finance Agency has ousted two top Freddie Mac executives in addition to one of its own, unconfirmed reports from news platform Semafor indicate.

Freddie CEO Diana Reid and FHFA Chief Operating Officer Gina Cross have been fired, according to Semafor reporter Eleanor Mueller who posted on X. Cross was hired in December and had previously worked at service organization Americorps. 

The Semafor report also indicated that the heads of human resources at both the government-sponsored enterprise and its regulator and the COO at Freddie had been dismissed but the GSE does not specifically list anyone in the C-suite with an operations title on its website.

A separate Politico report described Cross and FHFA Human Resources Director Monica Matthews as "on leave." Dionne Wallace Oakley was still listed as the Chief Human Resources Director at Freddie on the GSE's website at deadline.

Media contacts at FHFA and Freddie Mac had not responded to inquiries at deadline.

FHFA Director Bill Pulte earlier this week made sweeping changes to Freddie Mac and competitor Fannie Mae's boards and has been critical of hybrid work policies at both of the influential government-related mortgage investors and underutilized office space.

At least one other Freddie Mac executive, Craig Phillips, is no longer at the GSE, according to earlier Washington Post reports. Phillips, a former Treasury official who had just come on board in January, has not responded to inquiries about his status.