Republicans on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, sent a letter to Federal Housing Finance Agency (FHFA) Director Bill Pulte urging him to identify and eliminate waste, fraud, abuse and inefficiencies at the agency and its regulated entities and to refocus them on strengthening the housing finance system. The letter pointed to reported examples including a multimillion-dollar separation payment by the Federal Home Loan Bank of San Francisco to a former political appointee who had worked there for only a few months, and office utilisation at Fannie Mae where 49 of 2,900 employees reportedly attend the office for the full work week despite an office lease costing tens of millions of dollars each year. The senators asked Pulte to provide an update on the results of his efforts and indicated the committee’s willingness to work on any statutory obstacles affecting the housing finance system.
U.S. Senate Committee on Banking, Housing and Urban Affairs 2025-04-04
U.S. Senate Committee on Banking, Housing and Urban Affairs Republicans call on FHFA Director to end waste and politicization
Republicans on the U.S. Senate Committee on Banking, Housing and Urban Affairs, led by Chairman Tim Scott, urged FHFA Director Bill Pulte to address waste, fraud, abuse, and inefficiencies within the agency. The letter highlighted issues like a multimillion-dollar payment by the Federal Home Loan Bank of San Francisco and low office attendance at Fannie Mae. The committee expressed readiness to assist in overcoming statutory obstacles impacting the housing finance system.