Chairman Tim Scott, along with all Republican members of the Banking Committee, has urged Federal Housing Finance Agency (FHFA) Director Bill Pulte to tackle government waste and refocus the agency on its primary mission of strengthening the housing finance system. Scott’s call for action was supported by Senators Mike Crapo, Mike Rounds, Thom Tillis, John Kennedy, Bill Hagerty, Cynthia Lummis, Katie Britt, Pete Ricketts, Jim Banks, Kevin Cramer, Bernie Moreno, and Dave McCormick.
A letter sent to Director Pulte reflected concerns about politicization at the agency that, according to the committee, occurred under the previous administration. “The mission of strengthening the housing finance system to ensure homeownership is affordable is too important to be subject to a partisan political agenda, as was done under the Biden Administration,” wrote the Banking Committee Republicans.
The senators referenced previous statements made by Director Pulte in his confirmation hearing about eliminating waste, fraud, and abuse. They commended him for recent findings, including a multimillion-dollar payment made by the FHLBank of San Francisco to a former political appointee after a brief period of employment. Additional concerns were raised about office space underutilization at Fannie Mae.
The appeal concluded with the committee emphasizing the critical nature of the agency’s mission. “The American dream will remain out of reach for so many if the agencies tasked with serving the housing market are serving themselves. I urge you to continue identifying waste, fraud, and abuse as well as inefficiencies at the FHFA and its regulated entities.”
The full details of the letter are accessible online.
