Senators have expressed serious concerns regarding the qualifications of the directors appointed by Pulte to oversee GSEs, asserting they may have been chosen based on personal connections rather than expertise. Letters to Pulte demand clarity on changes made to the boards, his compliance with federal law, and potential impacts of conservatorship changes on housing prices. Questions also focus on transparency in communication with Congress and the media, suggesting a lack of forthrightness during his confirmation process.
"The individuals you have installed as directors do not appear to have the requisite experience to maintain the safe and sound operation of these companies."
"This indicates either that you were not forthright with the Banking Committee about your plans during the confirmation process or that you have entered this job without the capacity to follow the statutes and regulations governing the operation of Fannie and Freddie.
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