Today, Congresswoman Maxine Waters (D-CA), the top Democrat on the House Financial Services Committee, sent a letter to Congressman French Hill (R-AR), Chair of the Committee, demanding an immediate hearing with Federal Housing Finance Agency (FHFA) Director Bill Pulte following President Trump’s decision to install Pulte as Acting Director of National Intelligence (DNI) while he continues serving as FHFA Director. In the letter, Ranking Member Waters raised serious concerns about Pulte’s lack of qualifications to oversee the nation’s Intelligence Community (IC) while simultaneously managing the nation’s housing finance system amid a worsening housing affordability crisis.

“For numerous reasons, this appointment is terrible for America. From prioritizing and rewarding political weaponization of critical government positions and data to minimizing the intensifying affordable housing crisis, which is squeezing the wallets of American families, Pulte’s disinterested and substandard service in the Administration is already highly problematic,” wrote Ranking Member Waters.

Waters goes on to detail how Pulte has abused his position at FHFA through reckless actions that include unlawfully declaring himself chairman of both Fannie Mae and Freddie Mac; using his position to launch baseless, politically motivated attacks and undermine the independence of the Federal Reserve; rolling back climate-risk and minority homeownership initiatives; eliminating programs designed to expand access to credit for historically disadvantaged communities; and weakening affordable housing goals in ways that could push homeownership further out of reach for working families. She also criticized Pulte for promoting risky 50-year mortgage products that could trap families in debt for decades while slowing opportunities to build generational wealth through homeownership.

Waters added:

“The role of director of FHFA is not a part-time job, and Members of HFSC must know, before he takes on his new, significantly broader and more sensitive duties at the helm of the IC, whether he will continue to put President Trump’s petty grievances ahead of the pressing issues of the housing market.”

In closing, Ranking Member Waters urged Chairman Hill to exercise the Committee’s oversight authority to immediately require FHFA Director Pulte—who has yet to appear before the Committee—to  testify under oath regarding his actions at FHFA, his ability to simultaneously oversee both agencies, and the impact his leadership will have on housing affordability, financial stability, and public trust in government institutions.

See the letter HERE.

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