Just weeks after his confirmation as Director of the Federal Housing Finance Agency (FHFA), Bill Pulte is making swift moves to root out fraud and restore trust in the federal housing system. In a decisive action underscoring his zero-tolerance stance, Fannie Mae announced on April 8 that it has terminated over 100 employees for unethical conduct — including facilitating fraud — in an internal investigation initiated under Pulte’s leadership.
The sweeping action is part of Pulte’s top priority since assuming office: eliminating fraud and ensuring operational efficiency at government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. Contrary to expectations that Pulte’s main focus would be on removing the GSEs from government conservatorship, he has instead homed in on cleaning house and reinforcing institutional integrity.
“In President Trump’s housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry,” said Pulte in the official joint statement from FHFA and Fannie Mae. “Anyone who commits fraud against Fannie Mae does so against the American people.”
Fannie Mae CEO Priscilla Almodovar credited Pulte’s leadership in initiating the crackdown. “We hold our employees to the highest standards, and we will continue to do so,” she said, adding that the agency is committed to rooting out unethical behavior at every level.
The terminations have also drawn wider scrutiny from federal investigators, especially given recent reports that some of the employees involved were connected to a network of Telugu-speaking organizations flagged for irregularities, as reported by HR Katha.
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