ESG team at Fannie Mae has ended: Sources
Laurel Davis, who served as a senior vice president and head of the mission and impact of the company, was reportedly included in the cuts, in addition to the rest of the ESG team staff, according to the sources.
One source said that the employees were officially on administrative leave.
HOUSINGWIRE put his hand out of representatives at Fannie Mae and the Federal Housing Financing Office (FHFA), but did not receive an immediate answer.
Sources estimate that there were more than 30 members of the ESG team – that is part of the wider mission team, in addition to the service to serve and goals. They were released on Friday, by sources.
Danny Gardner, the SVP of Mission and Community Engagement at Freddie Mac, was also released earlier this month, by sources.
The cutbacks follow on the dismantling of the Trump administration of initiatives that include the provisions of diversity, shares and inclusion (dei) and climate-related mandates. FHFA director Bill Pulte has led the mission of the administration to remove all dei-based initiatives from his agency and the GSEs themselves.
After he had transferred the shelves of both GSEs and the termination of Freddie Mac -Head Diana Reid, Pulte had indicated earlier this week on social media that he “no longer changed executive leadership” at Fannie Mae and Freddie Mac.
“Our focus will now focus on growth, making houses more affordable, mortgage fraud are rooted and offer great career opportunities [sic] To those who make Fannie & Freddie amazing American icons again! “He wrote on X.
Pulte also asked for comments from X users about feedback for improving the position of the GSEs and said: “Actively work on new programs and new products at Fannie Mae and Freddie Mac. If you have ideas about what you should do differently, contact us!”
Earlier this month, Pulte withdrew two policy assignments with a focus on dei before publicly commenting on his approach to reform the GSEs.
“For years Fannie Mae and Freddie Mac are filled with Bloat, excessive editions and worse – that ends now,” Pulte said in a X At that time. “These two companies must be run as companies that serve the American people. We bring positive changes that make our housing market safer, healthy and affordable!”
Pulte, chairman of the boards of both Fannie Mae and Freddie Mac, has also rolled back various climate initiatives that were launched during the Biden Presidential. He also has a return to the office for both companies.
