WASHINGTON--Federal Housing Finance Agency Director Bill Pulte has assumed the role of chairman for both the Fannie Mae and Freddie Mac boards, according to regulatory filings. Additionally, both boards have removed several members and appointed new ones, ABA Banking Journal reported.
Pulte was confirmed as FHFA director by the Senate last week. During his confirmation hearing, Pulte said the agency’s conservatorships of Fannie and Freddie should not be indefinite but “any exit from conservatorship must be carefully planned to ensure the safety and soundness of the housing market without upward pressures on mortgage rates,” ABA Banking Journal noted.
The Wall Street Journal reported that as part of the change in leadership, Fannie’s board removed eight members and appointed four new members, including Pulte. Freddie removed six members and appointed four new members. Neither enterprise has issued an official announcement about the board changes, ABA Banking Journal said.