Freddie Mac CEO and Executives Fired Amid FHFA Overhaul

Freddie Mac has dismissed its CEO, Diana Reid, along with several top executives, during a significant restructuring led by the Federal Housing Finance Agency (FHFA) Director Bill Pulte. The firings, which include the head of human resources, Dionne Wallace Oakley, are part of Pulte's efforts to streamline operations within Freddie Mac and its counterpart, Fannie Mae, amidst the Trump administration's push for privatization of these government-sponsored enterprises. Pulte has recently taken control of both companies' boards and mandated a return to full-time office work for employees, following concerns over low in-office attendance. The overhaul has raised questions about the future direction of Freddie Mac, which plays a crucial role in the U.S. mortgage market, as it faces increased federal oversight. Analysts are closely monitoring how these changes will affect the privatization process and the companies' operations. The shakeup underscores a broader strategy to cut costs and eliminate redundancy within federal housing agencies.