Home > Business > US-backed mortgage giant Fannie Mae cuts more than 62 jobs across departments

US-backed mortgage giant Fannie Mae cuts more than 62 jobs across departments

Last Updated: October 31, 2025 04:03:56 IST

(Reuters) -U.S. government-sponsored mortgage enterprise Fannie Mae has cut more than 62 jobs across departments, including Information Technology, and Diversity, Equity and Inclusion, Federal Housing Finance Agency Director William Pulte said on Thursday. "We, like any business, must eliminate positions that are not core, or otherwise, to mortgages and new home sales. We have 7,000+ employees!" Pulte said in a post on X. Earlier, the Wall Street Journal reported that U.S. President Donald Trump's administration fired about a dozen officials within Fannie Mae's ethics and internal investigations unit, eliminating some guardrails meant to address and head off misconduct. Fannie Mae and the White House did not respond to a request for comment. The Trump administration is evaluating a public offering for Fannie Mae and Freddie Mac, possibly as soon as the end of 2025, Pulte said earlier this month. The enterprises were created to support homeownership by providing affordable mortgage financing, but suffered overwhelming losses when the market collapsed in 2008 and were placed in conservatorship under the FHFA. (Reporting by Anusha Shah in Bengaluru; Editing by Leslie Adler and Richard Chang)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

Most Popular

The Sunday Guardian is India’s fastest
growing News channel and enjoy highest
viewership and highest time spent amongst
educated urban Indians.

The Sunday Guardian is India’s fastest growing News channel and enjoy highest viewership and highest time spent amongst educated urban Indians.

© Copyright ITV Network Ltd 2025. All right reserved.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?