The Scoop
Top executives at Freddie Mac including CEO Diana Reid and head of human resources Dionne Wallace Oakley were dismissed Thursday amid Federal Housing Finance Agency Director Bill Pulte’s ongoing overhaul of the mortgage giant and its sister Fannie Mae, two people familiar with the development told Semafor.
Pulte previously axed Freddie Mac Executive Vice President of Corporate Strategy and External Affairs Craig Phillips, plus FHFA’s chief operating officer and head of human resources, the people said. It’s the latest escalation of the former private equity executive’s bid to cement control of the companies after appointing himself chair of both boards earlier this week.
A former staffer of then-Sen. JD Vance has reportedly joined the agency to aid further cuts. “There is no doubt Pulte has effectively usurped power and is running the show,” said one Fannie Mae employee.