Federal Housing Finance Agency (FHFA) Director Bill Pulte is claiming “moneyed corporations” and members of the mainstream media are working to prevent his agency’s agenda.
In a post to his personal X account, Pulte shared a portion of an email from Matt Birkbeck, senior writer with Asset-Backed Alert, seeking input on a story-in-progress that would have presented Pulte in a negative light.
“We’re told that Mr. Pulte did not inform the Treasury Department, HUD, and other federal agencies ahead of his announcements and that he’s on ‘thin ice’ with several senior Trump Administration officials,” said Birkbeck, alluding to Pulte’s surprise announcement this week that Fannie Mae and Freddie Mac will now allow lenders to use VantageScore 4.0 for their credit scoring.
Pulte then published a statement that said, “We will not be intimidated by lobbyists — who may or may not be registered — and well—moneyed corporations. They’ve made it clear, monopolies and their allies in the mainstream media will do whatever they can, to stop us from fighting for the interests of the American consumer. We look forward to implementing all aspects of the Credit Score Competition Act, which was signed years ago but never implemented.”
It is unclear which “lobbyists” and “moneyed corporations” Pulte was citing. Asset-Backed Alert is published by Green Street News, an independent business unit of Green Street Advisors LLC, an investment advisory firm. Birkbeck is a longtime journalist and filmmaker who never worked as a lobbyist. The Credit Score Competition Act was signed into law in 2018 and directed the FHFA to create a process for evaluating new credit scoring models for use by government-sponsored enterprises. Although the FHFA during the Biden administration announced plans in October 2022 for a dual structure system using VantageScore 4.0 and FICO 10T, but that initiative was placed on indefinite hold prior to the transition to the second Trump administration.
Pulte also used his personal X account to announce Westcor was being added “to Fannie Mae’s title acceptance pilot on certain refinances.” This move, he added, was designed to “reduce closing costs for homeowners, and foster more competition.” However, the FHFA website has no mention of Westcor.
There are a lot of factors affecting the availability and reality of home ownership for all Americans. The deck has been stacked and it is obvious from the attacks Mr. Pulte is over the target. Great leadership.
DROP THE PRICES NOT THE RATES. WHAT YOU ARE DOING WILL NOT MAKE BUYERS BUY OVERPRICED HOMES! IT WILL NOT MAKE THEM GET RAISES.