The chief executive at Freddie Mac, the largest mortgage guarantor in the US, has been fired as part of a government overhaul aimed at reducing federal oversight of the industry. The move comes after the Trump administration replaced several board members at both Fannie and Freddie, with Pulte taking seats on both boards.
Freddie Mac buys and packages mortgages into securities, guaranteeing about half of existing home loans. The company has operated under strict federal supervision since the 2008 housing meltdown. However, President Donald Trump’s administration aims to release them from government control and return them to the private sector.
Industry observers are watching closely to see how this process unfolds, with some interpreting Pulte’s move as an attempt to extend his reach in the industry. The firings have raised questions about who will take over Freddie Mac and what impact it will have on the mortgage market.
The FHFA had previously overseen both Fannie and Freddie but is now subject to no daylight between its oversight and that of the firms themselves, according to sources. Pulte added other members to the board, including a SpaceX engineer who later resigned. The companies did not respond to requests for comment on the firings.
Source: https://www.washingtonpost.com/business/2025/03/20/freddie-ceo-fhfa-fired