FHFA Director William Pulte Issues a Series of Orders Ending Assorted GSE Programs and Policies

In a series of posts on X (formerly Twitter) on March 25, 2025, FHFA Director William Pulte issued orders terminating special purpose credit programs (SPCPs) and Fannie Mae’s “repair all” strategy related to real-estate owned property; as well as orders rescinding a bulletin explaining the agency’s role in UDAP enforcement, a bulletin that had required the GSEs each to establish a “climate-related risk management framework into its existing enterprise risk management program,” and multi-family lease policies that had directed the GSEs to require that borrowers meet “certain minimum standards for rental payment flexibility and lease notices”; and an order waiving the 12. C.F.R. § 1293, subpart C requirements related to enterprise equitable housing finance planning.

Notably, Director Pulte determined that the GSEs’ support of SPCPs — WBK discussed previous agency support for those programs here — is inappropriate given that they are regulated entities in conservatorship.  Additionally, he determined that ending the GSEs’ role in UDAP enforcement will eliminate confusion and conflict in interpretations because the FTC already acts as the primary UDAP enforcer.  To be clear, though, the orders reiterate that regulated entities still must comply with all applicable statutes and regulations.