Two key US housing agencies, the Federal Housing Finance Agency (FHFA) and the Housing and Urban Development Department (HUD), have started eliminating offices and shedding staff as part of a broader plan to slash federal government capacity. FHFA has shut down two divisions, resulting in a 10% workforce reduction, while HUD is shutting down its Office of Field Policy and Management.
The moves come after Bill Pulte confirmed his leadership of FHFA and announced the firing of the majority of Fannie Mae and Freddie Mac’s boards, with himself taking over as chair. The US housing market is expected to undergo significant changes under President Trump’s administration.
The recent staff cuts and board purges have left many employees uncertain about their future at these agencies. HUD Secretary Scott Turner has vowed to eliminate waste and improve efficiency, but the current layoffs raise questions about the long-term impact on these key housing agencies.
The Trump administration’s efforts to reduce federal government capacity are ongoing, with more expected cuts in the coming weeks and months. As these changes take hold, their effects will be felt across the US housing market and beyond.
Source: https://www.govexec.com/workforce/2025/03/housing-agencies-begin-closing-offices-escorting-employees-out/403903