Overview
- Internal emails reviewed by the Associated Press show Fannie Mae marketing chief Lauren Smith shared lender-level pricing data with Freddie Mac “as per Director Pulte’s ask,” prompting warnings the information was confidential and could invite collusion claims.
- Senior executives who objected to the disclosure—including CEO Priscilla Almodovar, general counsel Danielle McCoy and mortgage head Malloy Evans—were ousted soon after, while Smith stayed, John Roscoe was elevated to co-president and Peter Akwaboah became acting CEO.
- Fannie Mae’s top lawyer cautioned that the data “should never be shared” and “could put the company at risk,” and executives sought legal guidance on how to protect the company after the transfer.
- An ethics probe into whether Pulte or allies improperly accessed mortgage records was escalated inside FHFA and was passed to federal prosecutors, according to reporting on the internal watchdogs’ actions before several were removed.
- FHFA and Fannie Mae issued brief statements emphasizing compliance and did not address the specifics; Democrats including Sen. Elizabeth Warren and House Minority Leader Hakeem Jeffries condemned Pulte’s conduct as he continued public referrals targeting Trump critics.