Trump Selects Bill Pulte to Lead the Federal Housing Finance Agency

President-elect Donald Trump recently announced his pick to lead the Federal Housing Finance Agency, according to Politico. His selection, Bill Pulte, a private equity CEO and the founder of Pulte Capital Partners, is the grandson of home builder and real estate magnate William Pulte, who founded Pulte Homes, later known as PulteGroup.

Bill Pulte has been vocal in his support of Trump. If confirmed, Pulte would head government-controlled mortgage giants Fannie Mae and Freddie Mac. The Trump administration is also expected to pursue a plan to release Fannie and Freddie from government control, a move that could have lasting repercussions on the mortgage market.

GOP lawmakers have raised the idea of including language to mandate Fannie and Freddie’s release in this year’s reconciliation package as a way to offset the cost of extending expiring tax cuts.

But the process is a complicated and controversial one — bipartisan efforts to release the companies have repeatedly failed over the 16 years they’ve been in government conservatorship — and a number of outstanding questions would have to be answered for it to move forward. It was not immediately clear what Pulte’s selection would mean for the effort, given his light public record. Read more