Bill Pulte, who was confirmed by the Senate on Thursday, March 13, as director of the Federal Housing Finance Agency (FHFA), has already made sweeping changes at Fannie Mae and Freddie Mac, according to reporting by Scotsman Guide, a provider of financial technology tools and industry news for mortgage originators. Late Monday, regulatory filings with the Securities and Exchange Commission (SEC) show that Pulte ousted 14 board members at the two government-sponsored enterprises and appointed himself as chairman. No reasons were provided for the firings.
The Wall Street Journal reported that the board members removed from Fannie were: Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig. ...
The board members removed from Freddie were Kevin Chavers, Lance Drummond, Luke Hayden, Allan Merrill, Jane Prokop and Roy Swan. Read more
