Newly confirmed Federal Housing Finance Agency Director Bill Pulte has moved quickly to change up Fannie Mae and Freddie Mac’s boards, tossing out several old members and adding a few new ones.
Both now list Pulte as chair and FHFA General Counsel Clinton Jones as a member, according to securities filings. Fannie also is adding Christopher Stanley and Michael Stucky to its board. New members at Freddie include Brandon Hamara and Ralph “Cody” Kittle.
The shakeup is in line with a series of moves the Trump administration has been making with the stated aim of streamlining the public sector, including housing reforms that could result in cutting government ties the two influential mortgage buyers have had since Sept. 6., 2008.
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FHFA pulled eight members off the Fannie Mae board and six from Freddie Mac, according to securities filings.
Amy Alving, Christopher Brummer, Michael Heid, Simon Johnson, Diane Lye, Diane Nordin, Chetlur Ragavan and Michael Seelig all have left Fannie’s board. Fannie Mae CEO Priscilla Almodovar, Renée Lewis Glover, Karin Kimbrough, Manuel Sánchez Rodríguez and Scott D. Stowell remain board members.
The board members who have left Freddie Mae are Kevin Chavers, Lance Drummond, Luke Hayden, Allan Merrill, Jane E. Prokop and Roy Swan. Freddie Mac CEO Diana Reid, Mark Bloom, Kathleen Casey, Aleem Gilani, Christopher Herbert, Grace Huebscher are still listed as board members.
Current board members will remain in place until the next annual election until they resign or FHFA replaces them.
Board committee assignments and reviews of new members related to whether they have transactions or relationships that need to be disclosed under securities filing rules were pending and deadline.
