Fannie Mae cut a group of seasoned professionals across several business lines this week, according to a list circulating in the industry Friday and media reports. This marks the latest round of executive-level turnover under Federal Housing Finance Agency (FHFA) Director and Fannie Mae board chairman Bill Pulte.
The Wall Street Journal first reported on the departures, citing people familiar with the matter. Several officials were notified Wednesday that their positions had been eliminated, the Journal reported. Bloomberg reported that the total of positions eliminated were 12, and that the departures were all involuntary.
A Fannie Mae spokesperson did not immediately respond to a HousingWire request for comment.
HousingWire obtained a list Friday morning that includes roughly 10 senior leaders in capital markets, regulatory affairs, multifamily and other areas of the company. The individuals hold titles that include vice president and head of specific business functions, and several had more than a decade of tenure at Fannie Mae.
The moves come as Pulte returns his focus to housing policy after serving several months as interim director of national intelligence (DNI).
Since taking the helm at FHFA and the Fannie Mae board, Pulte has overseen multiple rounds of headcount reductions at the government-sponsored enterprise, affecting hundreds of employees across operations, technology and diversity functions, alongside board changes and team restructurings.
On Friday, Pulte wrote in a post on X that “Technology is improving and providing opportunities for us to remove unnecessary processes and unfortunately at times personnel.”
Fannie Mae is making these leadership changes from a position of financial strength. The GSE reported $4 billion in net income in the second quarter of 2026, up 7% from the prior quarter and 20% from a year earlier, as higher revenue offset a larger provision for credit losses.
The company’s provision for credit losses rose to $485 million in the second quarter from $277 million in the first quarter. Fannie Mae said the increase reflected higher provisions across both its single-family and multifamily portfolios. On the company’s earnings call, Chief Financial Officer Chryssa C. Halley said Fannie expects “ongoing multifamily market challenges to result in additional delinquencies.”
