New Boards at Freddy and Fannie

[Terrel L. Shields]

Fannie, Freddie board members ousted in sudden, surprising move - Scotsman Guide

Bill Pulte takes over as FHFA director, replaces board members at Fannie Mae and Freddie Mac, and outlines his vision to 'Make Mortgages Great Again

www.scotsmanguide.com

Late Monday, regulatory filings showed that Pulte ousted 14 board members at the two companies and appointed himself as chairman. He also named replacements for some of the board members who were removed. No reasons were given for the firings.

Pulte made a post on X on Saturday that read: “Make Mortgages Great Again.”

The Wall Street Journal reported that the board members removed from Fannie were: Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig.​

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Four new board members were appointed to Fannie including Pulte, FHFA general counsel Clinton Jones, Christopher Stanley and Michael Stucky.​

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The board members removed from Freddie were Kevin Chavers, Lance Drummond, Luke Hayden, Allan Merrill, Jane Prokop and Roy Swan. The new board members were Brandon Hamara, Clinton Jones and Ralph “Cody” Kittle along with Pulte.​

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The Senate confirmed Pulte as director of the FHFA on Thursday by a vote of 56-43. Pulte succeeds Biden administration appointee Sandra L. Thompson as head of the agency.​

 

[Alsie35]

I don't know how or if this presages any changes for us, but Bill Pulte is a really, REALLY capable guy!

 

[Non Sequitur]

What has been going on with the GSEs since conservatorship, which started almost 2 DECADES AGO, is pure politics. And what is happening now is pure politics.

I, for one, welcome my new insect overlords. And I would like to remind them that boots on the ground appraisers, unlike AMC/National firm staff appraisers, can be helpful in their conquest.

 

[Joe Flacco]

Freddie CEO, COO, and head of HR got fired.

 

[Joe Flacco]

I get the feeling that FHFA is going to merge fannie and freddie and turn it into an actual government agency.

 

[Non Sequitur]

I get the feeling that FHFA is going to merge fannie and freddie and turn it into an actual government agency.

Would be a good start to a sovereign wealth fund but I doubt they want either. At this point all we can do is watch the fireworks.

 

[Joe Flacco]

Would be a good start to a sovereign wealth fund but I doubt they want either. At this point all we can do is watch the fireworks.

I think it is coming man. It is going to become a government agency and they are going to remove the biggest hurdle to home ownership. The down payment and up front closing costs. Call me crazy.

 

[shrubberyvaluation]

I think it is coming man. It is going to become a government agency and they are going to remove the biggest hurdle to home ownership. The down payment and up front closing costs. Call me crazy.

Sounds like a great way to have more foreclosures. Increasing supply would do the most, but it does nothing politically. Better to drive up prices with low supply and then do "affordable housing" programs politcally.

 

[TerryRohrer]

I think it is coming man. It is going to become a government agency and they are going to remove the biggest hurdle to home ownership. The down payment and up front closing costs. Call me crazy.

A perfect recipe to further inflate prices, taxes, insurance and Federal debt and reduce affordability.

 

[Joe Flacco]

Sounds like a great way to have more foreclosures. Increasing supply would do the most, but it does nothing politically. Better to drive up prices with low supply and then do "affordable housing" programs politcally.

VA is almost there.