Washington, D.C. – U.S. Senator Katie Britt (R-Ala.) joined Senate Banking Committee Chairman Tim Scott (R-S.C.) and all Republican members of the Senate Banking Committee in signing a letter to Federal Housing Finance Agency (FHFA) Director Bill Pulte, expressing support for his efforts to eliminate waste and inefficiencies within the agency and its regulated entities.
The letter reflects the senators’ support for returning the FHFA to its foundational mission of supporting the U.S. housing finance system and promoting homeownership. As Chair of the Housing, Transportation, and Community Development Subcommittee, Senator Britt has previously emphasized her priorities of addressing housing affordability, reducing regulatory barriers, and increasing access to homeownership.
“I look forward to exploring innovative ways to increase the country’s housing stock, while eliminating costly leftwing regulations and streamlining longstanding inefficiencies within our federal housing and transit agencies,” Senator Britt stated earlier this year upon assuming her subcommittee leadership role.
In the letter, the senators referenced recent disclosures by Director Pulte, including a reported multimillion-dollar separation agreement payment made by the Federal Home Loan Bank of San Francisco to a former political appointee, and underutilized office space at Fannie Mae, where a small percentage of employees have reportedly returned to in-person work despite costly leasing arrangements.
“These examples raise serious concerns regarding the extent to which the Enterprises and FHLBanks are effectively stewarding their resources,” the letter noted. The senators expressed concern that such practices could undermine the mission of the agency and its role in supporting the housing market.
The letter concluded by urging Director Pulte to continue identifying and addressing instances of waste, fraud, and abuse, and requested updates on his progress in these efforts. The senators also offered to collaborate on any legislative changes needed to support improvements within the housing finance system.
In addition to Senators Britt and Scott, the letter was signed by Senators Mike Crapo (R-Idaho), Mike Rounds (R-S.D.), Thom Tillis (R-N.C.), John Kennedy (R-La.), Bill Hagerty (R-Tenn.), Cynthia Lummis (R-Wyo.), Pete Ricketts (R-Neb.), Jim Banks (R-Ind.), Kevin Cramer (R-N.D.), Bernie Moreno (R-Ohio), and Dave McCormick (R-Pa.).
