On April 15, ten U.S. Senators sent a letter addressed to Mr. Brian M. Tomney, Inspector General of the FHFA, requesting that the FHFA OIG review recent actions taken by FHFA leadership to overhaul the boards at Fannie Mae and Freddie Mac, as well as reduce the FHFA workforce.
The letter expressed concerns about reports that FHFA leadership fired fourteen board members of Fannie Mae and Freddie Mac, dismissed Fannie’s entire audit committee, and installed the FHFA Director, William Pulte, as the chair of both boards. The representatives specifically questioned the legality of Pulte’s appointment to both boards, citing statutory provisions which prohibit the FHFA Director from holding any office in FHFA-regulated entities. Additionally, the letter highlighted the appointment of Christopher Stanley, an engineer at one of Elon Musk’s companies, to Fannie Mae’s board — raising questions about DOGE’s role in FHFA activities and its access to housing data.
The representatives also raised concerns with Mr. Pulte’s decision to place 35 unionized FHFA employees on administrative leave and to fire over 100 Fannie Mae employees for alleged unethical conduct. The representatives sought additional details on FHFA’s decision to fire the 100 Fannie Mae employees to evaluate whether the firing complied with applicable laws and agency procedures. The letter also sought clarity on how placing FHFA employees on administrative leave may affect FHFA operations.
To address the representatives’ concerns, the letter included six questions addressed to the Inspector General of the FHFA, requesting the Inspector General conduct a review and provide requested information about the altering of the boards of Fannie Mae and Freddie Mac, DOGE’s access to FHFA, Fannie Mae, or Freddie Mac data, and recent personnel decisions at FHFA.
[View source.]
