Bill Pulte, grandson of PulteGroup founder William Pulte and CEO of private equity firm Pulte Capital Partners, has been nominated by President-elect Donald Trump to be the next director of the Federal Housing Finance Agency (FHFA). President Trump announced the nomination through his Truth Social account.
If confirmed by the Senate, Pulte would succeed Sandra Thompson as the head of the FHFA, which oversees Fannie Mae and Freddie Mac. Thompson announced she would step down from her post Jan. 19.
Pulte is also known for his philanthropy via his social media pages. He founded Pulte Capital Partners in 2011. According to its website, Pulte Capital is an investment firm “focused exclusively on investing in leading building products businesses.”
The second Trump administration has renewed a push to release government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac from federal conservatorship, where they have been since 2008. Earlier in January, the U.S. Treasury and the FHFA amended their Preferred Stock Purchase Agreements “to help ensure that the eventual release of the GSEs from conservatorship will be orderly and to reflect certain existing practices.”
David Dworkin, president and CEO of the National Housing Conference (NHC), issued a statement after Pulte’s nomination.
“The NHC looks forward to working with Bill Pulte, who was nominated by President-elect Trump to be the next director of the Federal Housing Finance Agency. While Bill isn’t well known in Washington, we worked together in Detroit and I can say firsthand he is passionate about affordable housing and community development, as well as deeply knowledgeable about the housing market and home building industry. When Detroit was at its lowest point during the bankruptcy in 2013, Bill came home to work in communities hardest hit by the foreclosure crisis. I expect he will be an important voice in the Trump administration’s efforts to bring down the cost of homeownership and make all housing more affordable.”
Read the full article at: https://www.builderonline.com/money/mortgage-finance/trump-nominates-bill-pulte-as-director-of-the-federal-housing-finance-agency_o