Top -execs at Freddie Mac, FHFA Fireed: Report
The news was first reported by Semafor Reporter Eleanor Mueller On social media platform X As well as in a report on Politics. Politico reported the findings based on three people with knowledge of the situation that is to discuss anonymity for sensitive human resources.
No other details were reported, but if it is true, this would mean the departure of Freddie CEO Diana Reid, which was appointed as the role in September. Freddie does not specifically state a COO on its website.
One source told Housingwire on Thursday evening at the end of Thursday evening that Mike Hutchins was appointed interim -CEO after the termination of Reid.
Gina Cross, the COO of the FHFA, was placed on administrative leave, just like HR director Monica Matthews, according to Polo.
“FHFA is already a curator of Fannie Mae and Freddie Mac, with virtually unlimited power over their activities, so these dismissals don’t really change much,” said Scott Olsen, executive director of the Community Home Lenders or America. “Instead, Chla is focused on the most important policy of Fannie and Freddie, as they were identified in our letter to FHFA earlier this week, maintaining the footprint of the GSEs and a broad base of sellers-servant providers.”
The reported redundancies come shortly after the newly installed FHFA director Bill Pulte placed dozens of employees at the GSEs on leave earlier in the day.
Earlier this week he went to FOX News to complain that less than 40 from Fannie Mae’s 2500-Plus employees appeared at the office every day. He obliges a return to work at both GSEs.
Pulte recently reversed the shelves of both GSEs, a dozen members disappeared and installed new installations. He also appointed himself the head of the Boards of Fannie Mae and Freddie Mac.
Also on Thursday a former employee of Vice President JD Vance from his time in the Senate – AARON KOFSSKY – Reported member of FHFA in a capacity to help overhaul the structure and workforce of the agency, according to a report of Bloomberg.
“Kofsky is currently assigned to the FHFA’s Division of Housing Mission and Goals, where he will help direct decisions about reducing the Division staff,” said the report on the basis of conversations with his sources.
The news follows the events earlier in the day on Thursday, where Reid has signed a letter with Pulte who is obliged that Freddie Mac employees are obliged to return to the office five days a week in May. FHFA also closed two of its departments this week, which resulted in a staff reduction of approximately 10%, including in its Division and Statistics Division and the Division of Public Interest Examination (DPIE).
The relocation at FHFA was described as an addition to a sense of unrest at the regulator, said the Politico report.
“They come when the administration weighs that the gigantic companies privatatize, a decision that can bring a windfall to private investors, but that is opposed by many Democrats and others who fear that it could involve the market for housing financing.”
This is a crushing new story. Come back for updates.
