Fannie Mae Fires Over 100 Employees for Unethical Conduct

Fannie Mae has terminated over 100 employees for unethical conduct, including facilitating fraud, as part of a crackdown initiated by newly appointed Federal Housing Finance Agency (FHFA) Director Bill Pulte. Pulte emphasized a zero-tolerance approach to fraud, stating, "In President Trump’s housing market, there is no room for fraud, mortgage fraud, or any other deceitful act that can jeopardize the safety and soundness of the housing industry." This move reflects a broader strategy to reinforce integrity within government-sponsored enterprises like Fannie Mae and Freddie Mac, which support a significant portion of the U.S. mortgage market. The firings have also attracted scrutiny due to reports linking some terminated employees to irregularities within Telugu-speaking organizations. Fannie Mae CEO Priscilla Almodovar supported Pulte's efforts, asserting the agency's commitment to high ethical standards. Although specific details about the misconduct have not been disclosed, the firings signify a potential cultural shift in these financial institutions.