Mortgage regulator Bill Pulte has posted at least 13 agency orders on his personal X account

Core Viewpoint - Bill Pulte, head of the Federal Housing Finance Agency (FHFA), has been using his personal social media account to post official orders, raising concerns about the legality and transparency of such practices in the regulation of Fannie Mae and Freddie Mac, which are central to the $21 trillion residential mortgage market [2][4][15]. Group 1: FHFA's Communication Practices - Pulte has posted at least 13 official orders on his personal account since assuming his role in March, a practice that is unusual for the head of an agency that regulates major housing-finance companies [2][4]. - Previous FHFA leaders did not have a consistent standard for publishing orders, with some appearing in the Federal Register or on the agency's website, while others were circulated via email [3][9]. - Former FHFA officials expressed that they had not encountered orders being communicated through social media before Pulte's tenure [3][12]. Group 2: Legal and Regulatory Concerns - Legal experts have raised concerns about the legality of publishing directives on a personal social media account, questioning how stakeholders are expected to track changes that could impact lenders, investors, and tenants [4][14]. - Pulte's directive to consider cryptocurrency assets in mortgage underwriting has been highlighted as particularly controversial [10][18]. - The FHFA has not responded to inquiries regarding Pulte's social media posts, and there are implications that some of his posts may violate the Privacy Act [15][16]. Group 3: Impact on the Housing Market - The orders posted by Pulte, including those rolling back climate change and tenant protection requirements, have not been made available on any government websites [5][18]. - The National Association of Realtors has described some of Pulte's orders as not creating notable cost savings, indicating that they may not significantly impact the housing market [18]. - More critical to the future of Fannie Mae and Freddie Mac is the potential sale of part of the US Treasury's stake in these companies, which could generate billions for the federal government and affect their capital positions [19].