• Latest
  • Trending
  • All
  • News
  • Business
  • Lifestyle
Mortgage Giant Fannie Mae Bends The Knee In Fear Of Being DOGE’d

Mortgage Giant Fannie Mae Bends The Knee In Fear Of Being DOGE’d

March 24, 2025
Joe Scarborough Asks Dem Rep Point-Blank Why His Party Didn’t Call For Epstein File Release Sooner

Joe Scarborough Asks Dem Rep Point-Blank Why His Party Didn’t Call For Epstein File Release Sooner

July 17, 2025
SEN TOMMY TUBERVILLE: The Fed Has Gone Rogue — Fire Jerome Powell

SEN TOMMY TUBERVILLE: The Fed Has Gone Rogue — Fire Jerome Powell

July 17, 2025
Liberal Groups Aim To Make Immigration Courts Safe Haven For Illegals

Liberal Groups Aim To Make Immigration Courts Safe Haven For Illegals

July 17, 2025
Dem Senator Says Her Party Needs To Ditch ‘Wonky Policies’ Approach In Favor Of ‘Alpha Energy’

Dem Senator Says Her Party Needs To Ditch ‘Wonky Policies’ Approach In Favor Of ‘Alpha Energy’

July 17, 2025
Newsom Eyes Ripping Up GOP Districts To Pad Congressional Dems’ Ranks In Name Of ‘Democracy’

Newsom Eyes Ripping Up GOP Districts To Pad Congressional Dems’ Ranks In Name Of ‘Democracy’

July 17, 2025
Trump Admin Tells California To Kiss Federal Cash For High-Speed Rail Boondoggle Goodbye

Trump Admin Tells California To Kiss Federal Cash For High-Speed Rail Boondoggle Goodbye

July 17, 2025
Trump Crackdown: Border Crossings Hit Historic Lows

Trump Crackdown: Border Crossings Hit Historic Lows

July 17, 2025
Majorities Of Americans Think Most Democrats And Republicans In Congress Should Be Voted Out, Poll Says

Majorities Of Americans Think Most Democrats And Republicans In Congress Should Be Voted Out, Poll Says

July 17, 2025
Eagles Super Bowl Champion Dies at 38

Eagles Super Bowl Champion Dies at 38

July 17, 2025
Christian Patriarch Says IDF Struck Gaza’s Only Catholic Church In Raid

Christian Patriarch Says IDF Struck Gaza’s Only Catholic Church In Raid

July 17, 2025
Trump Claims Coca‑Cola Agrees to Sugar Switch — Company Responds

Trump Claims Coca‑Cola Agrees to Sugar Switch — Company Responds

July 17, 2025
Scott Jennings Pressed About Whether He Will Ditch CNN For Senate Run

Scott Jennings Pressed About Whether He Will Ditch CNN For Senate Run

July 17, 2025
  • Donald Trump
  • State of the Union
  • Elon Musk
  • Tariffs
  • Congress
  • Faith
  • Immigration
Thursday, July 17, 2025
  • Login
IJR
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls
No Result
View All Result
IJR
No Result
View All Result
Home News

Mortgage Giant Fannie Mae Bends The Knee In Fear Of Being DOGE’d

by Daily Caller News Foundation
March 24, 2025 at 6:13 pm
in News, Wire
240 12
0
Mortgage Giant Fannie Mae Bends The Knee In Fear Of Being DOGE’d
491
SHARES
1.4k
VIEWS
Share on FacebookShare on Twitter

Daily Caller News Foundation

Mortgage company Fannie Mae is bringing workers back to their Washington, D.C., Reston, Va. and Plano, Texas offices Monday in an attempt to avoid Federal Housing Finance Agency (FHFA) director Bill Pulte’s executive cuts following layoffs at its sister company, Freddie Mac.

Pulte, nominated by President Donald Trump to lead the FHFA and confirmed by the Senate on March 13, wasted no time laying off executives at the mortgage associations the FHFA oversees. Pulte fired Freddie Mac’s head of human resources Dionne Wallace Oakley, Executive Vice President of Corporate Strategy and External Affairs Craig Phillips and the chief operating officer on Thursday while also replacing CEO Diana Reid with interim CEO Mike Hutchins, according to a Semafor report.

Freddie Mac workers were reportedly told to return to offices May 1, but following the executive cuts at the corporation, one Fannie Mae employee told Semafor, “I think the hope is if we appease [Pulte] with this then he won’t look to ‘DOGE’ us as much.”

Soon after entering office, Trump established the Department of Government Efficiency (DOGE) which he tasked with rooting out waste, fraud and abuse of taxpayer funds within the federal government. The initiative has thus far led to thousands of employees being placed on leave, the reevaluation of federal contracts, foreign aid, federally-funded research and more. Several agencies have had their workforce and authority gutted by the administration.

Despite Fannie Mae’s employee count reaching 7,700, there are only 5,300 available office seats for employees when they return to in-person work, according to a Semafor report. It’s unclear if staff cuts will be made following the return to offices.

Fannie Mae did not respond to the Daily Caller News Foundation’s request for comment.

The same day Pulte fired Freddie Mac executives, he also placed FHFA Chief Operating Officer Gina Cross and Human Resources Director Monica Matthews on administrative leave, according to Politico. Moreover, over a dozen employees have been placed on administrative leave at the agency, The Wall Street Journal reported.

I spent the weekend speaking with some great leaders at Fannie Mae and Freddie Mac. There are some really great people inside of these businesses, and the good news for them is there is a lot of upward mobility, to earn and grow MORE!

— Pulte (@pulte) March 16, 2025

Pulte also appointed himself to chair of both Fannie Mae and Freddie Mac’s boards after firing 14 members earlier this week, Politico reported. The move comes as the administration is reportedly weighing an executive order on housing that would direct departments to look into privatization options for Fannie Mae and Freddie Mac, according to an official who spoke with the WSJ. The step to evaluate different methods for privatization is intended to protect borrowers, as privatization risks investors demanding higher premiums which would increase borrowers’ mortgage rates. The administration sees the reprivatization of the corporations as a potential strategy to reduce the country’s deficit and return funds to taxpayers.

The move to consider reprivatization, however, has received some opposition from Democratic lawmakers. The Secretary of Housing and Urban Development Scott Turner was recently sent a letter signed by 11 Democratic Senators raising concerns regarding his plan to re-privatize the two firms, stating that if the process were “mismanaged” it could make mortgages more expensive for Americans.

“Changes to the ownership of Fannie Mae and Freddie Mac would be a monumental undertaking that would affect our entire housing system and touch the lives of homeowners and renters across the country,” the Senators wrote. “If mismanaged, ending the conservatorships and Treasury’s role with Fannie Mae and Freddie Mac could make mortgages more expensive, cut off access to mortgage credit, destroy many of the important reforms made over the past 16 years, and compromise our entire housing market and the broader U.S. economy.”

Turner previously said he would work alongside the Treasury Department and Congress to privatize the mortgage-finance firms in a February interview with the Wall Street Journal. “There are partners that will be at the table and obviously we’ll be one of them,” said Turner, a former NFL player and Texas lawmaker. “When you’re a quarterback, you’ve got to work with the entire huddle.”

Although Turner hasn’t expanded much on the origin of his desire to free Fannie and Freddie from their government hold, it’s clear the process will take significant collaboration between the Treasury Department, Congress and FHFA.

Freddie and Fannie were previously privately owned but came under government conservatorship during the 2008 financial crisis after the U.S. Treasury Department got warrants to purchase roughly 80% of the corporation’s common shares. Now, the two mortgage giants stand behind about half of the U.S. residential mortgage market.

Freddie Mac and the FHFA did not respond to the DCNF’s request for comment.

All content created by the Daily Caller News Foundation, an independent and nonpartisan newswire service, is available without charge to any legitimate news publisher that can provide a large audience. All republished articles must include our logo, our reporter’s byline and their DCNF affiliation. For any questions about our guidelines or partnering with us, please contact licensing@dailycallernewsfoundation.org.

Tags: businessDCNFU.S. News
Share196Tweet123
Daily Caller News Foundation

Daily Caller News Foundation

Advertisements

Top Stories June 10th
Top Stories June 7th
Top Stories June 6th
Top Stories June 3rd
Top Stories May 30th
Top Stories May 29th
Top Stories May 24th
Top Stories May 23rd
Top Stories May 21st
Top Stories May 17th

Join Over 6M Subscribers

We’re organizing an online community to elevate trusted voices on all sides so that you can be fully informed.





IJR

    Copyright © 2024 IJR

Trusted Voices On All Sides

  • About Us
  • GDPR Privacy Policy
  • Terms of Service
  • Editorial Standards & Corrections Policy
  • Subscribe to IJR

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Politics
  • US News
  • Commentary
  • World News
  • Faith
  • Latest Polls

    Copyright © 2024 IJR

Top Stories June 10th Top Stories June 7th Top Stories June 6th Top Stories June 3rd Top Stories May 30th Top Stories May 29th Top Stories May 24th Top Stories May 23rd Top Stories May 21st Top Stories May 17th