Government Executive, Workforce, Eric Katz, Senior Correspondent, March 19, 2025
Two key agencies overseeing the nation’s housing policy have begun to eliminate offices and shed staff, according to several employees briefed on the matters, as the Trump administration ratchets up its plan to slash federal government capacity.
The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, the federally backed mortgage institutions, has so far this week shuttered two of its divisions, resulting in a cut to nearly 10% of its workforce. The moves follow the confirmation of Bill Pulte to lead FHFA and his decision this week to fire the majority of both Fannie Mae and Freddie Mac’s boards and name himself as the chair of both panels.
The Housing and Urban Development Department, which operates separately from FHFA, is in the process of shuttering its Office of Field Policy and Management. It has notified the American Federation of Government Employees council that represents those workers that it plans to initiate reductions in force for around 150 employees. AFGE has demanded to bargain over the RIFs but has yet to hear back from the department.