Fannie Mae cut 62 jobs on Thursday across its operations, technology and diversity teams as part of an ongoing strategy imposed by Federal Housing Finance Agency (FHFA) Director Bill Pulte to reduce positions not related to the enterprise’s core activities.

“Today Fannie Mae executed a standard business layoff of over 62 people, across the COO, Information Technology, DEI, and other divisions,” Pulte said. “We, like any business, must eliminate positions that are not core, or otherwise, to mortgages and new home sales. We have 7,000+ employees!”

According to Pulte, the layoffs were prompted after a manager was unable to explain what his employees did during the day. “Fannie Mae must be, and will be, free of waste, abuse and DEI!!!,” Pulte posted. 


The Trump administration has reportedly dismissed officials in Fannie’s ethics and internal investigations unit, The Wall Street Journal reported Thursday, citing people familiar with the matter. Suzanne Libby, the chief ethics officer, was fired last week, while Danielle McCoy, who served as general counsel, stepped down after reportedly being pressured by leadership, the sources said.

In recent months, the government-sponsored enterprises (GSEs) have undergone layoffs, board changes and team restructurings.

In April, reports indicated that Fannie Mae laid off about 700 employees, including members of the Telugu-speaking community, over “irregularities” related to charitable donations. The environmental, social and governance (ESG) team was reportedly dismissed in its entirety. 

The latest cuts come as the FHFA seeks feedback on its proposed strategic plan for 2026–2030, which introduces new priorities such as deregulation while scaling back previous focuses on diversity, equity and inclusion (DEI).

The agency has also imposed leadership changes, with CEO Priscilla Almodovar replaced by Chief Operating Officer Peter Akwaboah as acting CEO while the company searches for a permanent leader.

In addition, Brandon Hamara and John Roscoe were appointed co-presidents. On Oct. 24, Jake Williamson and Tom Klein were named to lead the single-family business and the general counsel’s office, respectively. David Benson also rejoined the company as a senior adviser.

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