Under the leadership of Bill Pulte, the new director of the Federal Housing Finance Administration (FHFA), significant changes are being implemented at Fannie Mae and Freddie Mac. This includes the firing of key executives such as Freddie Mac CEO Diana Reid and the head of human resources, as well as a broader effort to restructure staffing within FHFA. This move has reignited discussions about the potential privatization of Fannie and Freddie, which have been under government conservatorship since 2008. Personnel cuts at FHFA have raised concerns among employees about the abruptness and manner of the changes made.
Pulte reportedly fired Freddie Mac CEO Diana Reid and other senior executives, marking the start of a major staffing overhaul at the FHFA overseeing the two mortgage giants.
The shake-up follows Pulte's abrupt move to overhaul the boards of Fannie and Freddie, amid increasing speculation that Trump may push for their privatization.
Kimbrough expressed concern, stating that the personnel cuts at FHFA were 'carried out in the most heartless way possible,' reflecting the abruptness of the changes.
Reid, who had only been CEO since September, confirmed her departure on LinkedIn, indicating her tenure with Freddie Mac ended prematurely.
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