WASHINGTON, D.C. — William Pulte, director of the United States Federal Housing Finance Agency (FHFA), has replaced several members of the governing boards of government-sponsored entities (GSEs) Fannie Mae and Freddie Mac. The removals were announced through regulatory filings with the Securities and Exchange Commission (SEC) on March 17.
According to The Wall Street Journal, Pulte removed eight members of the board of Fannie Mae. The removed board members were Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig. Additionally, Pulte appointed Clinton Jones, Michael Stucky and Christopher Stanley to the board.
Christopher Stanley — who is a software engineer that has worked at Elon Musk’s SpaceX and the Department of Government Efficiency (DOGE), according to The New York Post — reportedly resigned from the board of Fannie Mae one day after he was appointed to the role.
Pulte removed six members from the board of Freddie Mac, including Kevin Chavers, Lance Drummond, Luke Hayden, Allan Merrill, Jane Prokop and Roy Swan. The new board members are Brandon Hamara, Clinton Jones and Ralph “Cody” Kittle.
Additionally, Pulte appointed himself chairman of both Fannie Mae and Freddie Mac.
Pulte was confirmed as director of the FHFA on March 13 by a Senate vote of 56-4. Pulte was appointed to head the agency by President Donald Trump. He is the founder of private equity firm Pulte Capital Partners. He succeeded former President Joe Biden’s appointee Sandra Thompson as the head of the agency.
The FHFA serves as regulator and conservator of Fannie Mae and Freddie Mac and as the regulator of the 11 regional federal home loan banks, which collectively provide roughly $8.5 trillion in funding for U.S. mortgage markets and financial institutions.