President-elect Donald Trump reportedly has selected private equity CEO Bill Pulte to head the Federal Housing Finance Agency (FHFA). If confirmed, Pulte would oversee one of the top housing regulators for the federal government.
Pulte is the founder of Pulte Capital Partners, according to Politico. The company states on its website that it invests in building-products businesses. The team has experience in building nearly 1 million homes internationally. Pulte is also the grandson of his namesake, William Pulte, who was one of the largest homebuilders in America before his death in 2018.
Pulte is also the self-described “inventor of Twitter philanthropy,” which he describes as giving food, rent and other necessities to people in need, according to Capital Research Center, a website that covers charity and philanthropy.
The Mortgage Bankers Association (MBA) praised the selection. MBA president Bob Broeksmit said in a statement that his association looks forward to working with Pulte and the FHFA staff on “policies and programs that boost housing supply and create affordable opportunities for our nation’s homebuyers and renters.”
The MBA also noted that it would work with the FHFA on releasing Fannie Mae and Freddie Mac from the federal conservatorship.
“The conservatorship of Fannie Mae and Freddie Mac (GSEs) was never intended to be permanent. MBA stands ready to work with the Administration and Congress to ensure that the transition to a post-conservatorship era for the GSEs is done the right way, including the critical step that Congress approves an explicit federal backstop for the GSEs’ mortgage-backed securities, to prevent severe market disruptions,” Broeksmit said.
Mat Ishbia, the CEO for United Wholesale Mortgage, called Pulte an excellent choice for the role.
“Having someone with industry experience who understands both housing and mortgage, as well as the challenges we need to overcome, is a win for the entire industry and consumers across the country,” Ishbia said. “There’s a lot to look forward to, and we’re excited to see the new and innovative strategies that will come under Mr. Pulte’s leadership.”
Pulte would replace Sandra L. Thompson, the first Black woman to lead the FHFA, who announced last week that she plans to step down from the post this coming weekend. Thompson had been acting director of the agency beginning in June 23, 2021, before being sworn in as director the following year.
