Freddie Mac executives fired following FHFA restructuring

Top executives at Freddie Mac have been fired, according to a report. This includes CEO Diana Reid. She was appointed just six months ago. A senior HR official at the Federal Housing Finance Agency (FHFA) was also let go. The news was shared on social media by a Semafor reporter and later published by Politico. Sources close to the situation requested anonymity. No specific reasons were given for the firings. Freddie Mac's leadership team includes Dennis Hermonstyne Jr., the chief compliance officer, and Anil Hinduja, the chief risk officer. Jim Whitlinger is the chief financial officer, with Dionne Wallace Oakley serving as head of HR. In addition to the firings, Gina Cross, the COO of FHFA, and HR director Monica Matthews have been placed on administrative leave. This follows an earlier decision by new FHFA Director Bill Pulte to put many employees on leave and mandate a return to the office. Pulte has claimed that only a small fraction of workers at Fannie Mae are attending the office daily. He has since reshuffled the boards of both Fannie Mae and Freddie Mac, replacing many members, and appointed himself as head of Fannie Mae's board. On another note, Aaron Kofsky, a former staffer for Vice President J.D. Vance, has joined FHFA to help restructure the agency. He will focus on reducing staff in the FHFA’s Division of Housing Mission and Goals. The events contribute to a broader restructuring effort at FHFA. They come as discussions about privatizing Freddie Mac and Fannie Mae gain attention. This potential move has raised concerns about its impact on the housing finance market.