Scott Olson | Executive Director of Community Home Lenders of America
Scott Olson, executive director of the Community Home Lenders of America, says that despite the changes, the adjustments will not significantly impact the government sponsored enterprises (GSEs).
“FHFA is already conservator of Fannie Mae and Freddie Mac, with virtually unlimited power over their operations, so these terminations do not really alter much,” Olson told HousingWire. “Instead, CHLA is concentrating, moving forward, on the main policies of Fannie and Freddie, like the ones outlined in our letter to FHFA earlier this week – maintaining the GSEs’ presence and a wide array of seller-servicer lenders.”
In the aftermath of Pulte’s appointment as chairman, he placed numerous GSE employees on leave and dismissed 14 board members. Notably, Christopher Stanley, a staffer from the Department of Government Efficiency (DOGE) was appointed to Fannie Mae’s board, but resigned on March 18.
Furthermore, Aaron Kofsky, former aide to Vice President J.D. Vance during his Senate tenure, has reportedly joined FHFA to assist in restructuring the agency and its workforce.
Pulte is now requiring a return to office order at Fannie Mae and Freddie Mac after claiming that fewer than 40 of Fannie Mae’s 2,500-plus employees were working in the office regularly. Prior to Reid’s dismissal, she jointly issued a directive with Pulte mandating that Freddie Mac employees return to the office five days a week starting in May.
Recent changes during the week also include the closure of two departments at FHFA — the Research and Statistics Division and the Division of Public Interest Examination (DPIE) — resulting in the reduction of approximately 10 percent of its staff.
Editor’s note: This story has been updated to note that DOGE staffer Christopher Stanley resigned from Fannie Mae’s board on March 18.
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