Trump administration dismisses a dozen officials from Fannie Mae

The Trump administration dismissed a dozen senior staff from mortgage giant Fannie Mae this week, according to an official familiar with the matter, the latest move in a push to remake the lender.

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The 12 positions were eliminated Wednesday, according to the official, speaking on condition of anonymity to describe the action. Some of the jobs were eliminated due to the increasing capability of artificial intelligence and the departures were all involuntary, the official said. 

It wasn’t immediately clear which positions were affected and whether the changes represented a shift in strategy for the mortgage agency. The Federal Housing Finance Agency, which oversees Fannie Mae and its counterpart, Freddie Mac, didn’t immediately reply to a request for comment. The departures were reported earlier by the Wall Street Journal. 

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FHFA is led by Bill Pulte, a construction heir and Trump loyalist who briefly served as the acting director of national intelligence earlier this year after DNI chief Tulsi Gabbard announced her departure. Pulte used his time in the role to shrink the Office of the Director of National Intelligence, partly through firings. 

Trump has long mused about a public offering of shares in Fannie Mae and Freddie Mac, though it’s not clear yet whether he will proceed. He said in June that it was still under consideration but that there was no rush.