On the heels of the major shakeup at Fannie Mae in recent days, top officials at Freddie Mac, including CEO Diana Reid, were fired on Thursday, according to news reports. No reasons were given for the firings.

Reid, who took over as CEO last September, was fired by Bill Pulte, director of the Federal Housing Finance Agency (FHFA), according to the Washington Post. This new round of leadership changes include other top officials at Freddie Mac and at Pulte’s FHFA.

Recently, Pulte discharged 14 members of the boards of Fannie Mae and Freddie Mac and named himself chairman of both the boards. Ironically, The Washington Post reports that Pulte recently posted on X that he “had good conversations with the Fannie Mae CEO and Freddie Mac CEO, and I look forward to working with them!”  

Pulte also placed FHFA COO Gina Cross and Human Resources Director Monica Mathews on leave, according to a report from Politico. Earlier reports had incorrectly stated that Pulte had put other members of Freddie Mac’s leadership team on leave.

The shakeup was part of a drastic overhaul of both Fannie Mae and Freddie Mac, government-sponsored enterprises that play a crucial role in the secondary mortgage market. The Trump administration has said it wants to privatize both enterprises.

The former CEO Reid oversaw all aspects of Freddie Mac, one of the largest providers of mortgage financing in the United States. She was also a member of the company’s board of directors. She brought four decades of experience in banking, real estate and capital markets to Freddie Mac.