Fannie Mae officials ousted after sounding alarm on sharing confidential data
9 days ago
- #Bill Pulte
- #housing scandal
- #Fannie Mae
- Top Fannie Mae officials were ousted after raising concerns about sharing confidential mortgage pricing data with competitor Freddie Mac.
- Lauren Smith, Fannie Mae's head of marketing, shared confidential data at the request of Bill Pulte, Trump's top housing regulator, sparking internal alarm.
- Senior Fannie Mae executives who questioned Smith's actions were fired, along with internal ethics watchdogs investigating Pulte.
- Pulte has used his position to target political opponents, push cryptocurrency in mortgages, and advocate for controversial 50-year mortgages.
- Pulte's actions have drawn criticism from Democrats, including Sen. Elizabeth Warren, who called for congressional scrutiny.
- Pulte also targeted large homebuilders, requesting confidential data and threatening crackdowns if construction volume didn't increase.
- Pulte has cultivated a close relationship with Trump, donating $1 million to his campaign and attacking Federal Reserve Chair Jay Powell.
- Fannie Mae's leadership saw significant changes, with Pulte loyalists promoted and critics removed.
- Trump publicly endorsed Pulte's efforts, sharing a graphic highlighting Fannie Mae's support for homebuilders.