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MortgagePoint » Your Trusted Source for Mortgage Banking and Servicing News 24 February 2025 G O V E R N M E N T S P O T L I G H T TRUMP NAMES BILL PULTE AS NEXT FHFA DIRECTOR U.S. President-Elect Donald Trump took to the social media platform Truth Social to announce the nomination of Bill Pulte as next Director of the Federal Housing Finance Agency (FHFA). Pulte, a private equity executive, is the grandson of William Pulte, Founder and Chair of U.S. homebuilder Pulte- Group. He is known for his philanthrop- ic work via social media, using the social platform X, where he currently has three million followers. The FHFA is an independent agency established by the Housing and Eco- nomic Recovery Act of 2008 (HERA), responsible for the supervision, regu- lation, and housing mission oversight of the Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System (which includes the 11 Federal Home Loan Banks and the Office of Finance). "Bill needs no formal introduction to the Great Citizens of our Country, because they have seen, and many have experienced, his philanthropy firsthand," said Trump in his post. "He believes in the incredible potential of our Nation, and will help us restore the American Dream FOR ALL." Current FHFA Director Sandra L. Thompson announced her retirement as of January 19, one day before Trump's inauguration as President of the United States. Had Thompson not announced her retirement, Trump would have had the authority to remove her as FHFA Director following his inauguration, thanks to a U.S. Supreme Court decision in the case of Collins v. Yellen that simpli- fies the process of removing the FHFA Director. "Thank you Mr. President. You are the greatest President in history, and un- der your leadership, we will restore the American Dream FOR ALL!," said Pulte in a posting on X after the nomination was announced. Pulte, grandson of William Pulte, Founder and Chair of U.S. homebuilder PulteGroup, was a member of the Board of Directors of PulteGroup, residential home-construction company based in Atlanta. As of 2023, the company was the third-largest home-construction com- pany in the nation based on the number of homes closed—having built nearly 800,000 homes. In 2001, Pulte Homes acquired Del E. Webb Construction Company, for $1.8 billion. In 2003, the company acquired Sivage-Thomas Homes, and in 2009, the company acquired Centex for $1.3 billion in stock. In August 2014, the company ac- quired the real-estate assets of Dominion Homes for $82 million. The company changed its name from Pulte Homes to PulteGroup in March 2010. Since 2011, Pulte has served as CEO of Pulte Capital Partners LLC, an investment firm with no affiliation with PulteGroup, focused on investing in housing supply, building products, and related service companies. Pulte also served as CEO and Chair of Carstin Brands LLC, a residential countertop manufacturer, and as a Direc- tor of Olon Group, a manufacturer for the cabinet industry. Prior to its sale in May 2016, Pulte built Southern Air & Heat LLC into one of the leading residential heating and air conditioning platforms in the nation. Pulte is a graduate of Northwest- ern University. "MBA congratulates Bill Pulte on being nominated to serve as the next FHFA Director," said Bob Broeksmit, CMB, Pres- ident and CEO of the Mortgage Bankers Association (MBA). "We look forward to working with him and the FHFA staff on policies and programs that boost housing supply and create affordable opportunities for our nation's homebuyers and renters, while protecting taxpayers and ensuring a robust secondary mortgage market and Federal Home Loan Bank system for sin- gle-family and multifamily lenders." Confirmation Status: Awaiting Senate confirmation as of press time. SENATE CONFIRMS BESSENT AS NEXT TREASURY SECRETARY Scott Bessent, a noted investor, hedge fund manager, and frequent speaker on economic and investment panels, has been confirmed by the United States Senate by a vote of 68-29 to serve as President Donald J. Trump's next Secretary of the U.S. Department of the Treasury. "Past successful Treasury Secretaries have understood business and financial markets, as well as foreign policy, national security, budgets, and regulation," said U.S. Senate Finance Committee Chair- man Mike Crapo on the Senate floor. "Mr. Bessent's impressive background positions him for similar success. He has worked for the last three decades as one of the sharpest minds in the global finan- cial industry. He has decades of academic, professional and leadership experience relevant to these positions." A Yale graduate and former Chief Investment Officer for Soros Fund Management, the hedge fund founded by George Soros in 1970, Bessent serves Trump's Nominees