President-elect Donald Trump on Thursday named philanthropist and Pulte Capital CEO Bill Pulte to serve as director of the Federal Housing Finance Agency (FHFA).

FHFA is an independent agency that was established by the Housing and Economic Recovery Act of 2008. The agency is responsible for the effective supervision, regulation, and oversight of the housing mission of the Fannie Mae, Freddie Mac, and the Federal Home Loan Bank System, which includes the 11 Federal Home Loan Banks and the Office of Finance.

“I am pleased to announce that Bill Pulte will serve as the next Director of the Federal Housing Finance Agency,” Trump posted on Truth Social.

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