Jefferson Reporter

U.S. Senator Katie Britt has joined forces with Banking Committee Chairman Tim Scott and other Republican members of the Senate Banking Committee in addressing concerns to the Federal Housing Finance Agency (FHFA) Director Bill Pulte. Through a letter, they expressed support for Director Pulte’s effort to eliminate waste and refocus the agency on its primary mission of strengthening the U.S. housing finance system.

Senator Britt, Chair of the Housing, Transportation, and Community Development Subcommittee, emphasized her commitment to refining the housing finance system. Senator Britt stated, “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.”

The letter addressed to Director Pulte follows his earlier confirmation hearings where he promised to combat waste, fraud, and abuse. The Senators noted their encouragement by Director Pulte’s efforts despite his short tenure. They referenced discoveries such as a significant payment by the FHLBank of San Francisco to a former political appointee and the low office attendance at Fannie Mae despite substantial office lease costs. They highlighted concerns regarding the effective use of resources by the Enterprises and FHLBanks.

In concluding, the Senators stressed, “The American dream will remain out of reach for so many if the agencies tasked with serving the housing market are serving themselves.” They urged Director Pulte to continue identifying inefficiencies and offered legislative support to address any obstacles impeding a robust housing finance system.

Several other senators, including Mike Crapo, Mike Rounds, Thom Tillis, John Kennedy, Bill Hagerty, Cynthia Lummis, Pete Ricketts, Jim Banks, Kevin Cramer, Bernie Moreno, and Dave McCormick, co-signed the letter.