New Investigations Intensify Troubles for FHFA Director Bill Pulte

New Investigations Intensify Troubles for FHFA Director Bill Pulte

Bill Pulte, director of the Federal Housing Finance Agency (FHFA), has drawn intense scrutiny after taking a notably public and partisan approach to his role. Instead of maintaining the low-profile posture of some predecessors, Pulte has repeatedly referred prominent figures perceived as political adversaries to federal authorities on allegations tied to mortgage fraud.

Those referrals—targeting New York Attorney General Letitia James, U.S. Senator Adam Schiff, Federal Reserve Governor Lisa Cook, and Representative Eric Swalwell—sparked concern among Senate Democrats and prompted requests for formal review.

GAO Inquiry and Congressional Concerns

The Government Accountability Office, Congress’ independent investigative arm, has confirmed it opened a review of Pulte’s actions after senior Senate Democrats asked the FHFA to "promptly investigate recent actions undertaken at the Federal Housing Finance Agency." The GAO review signals that lawmakers and the watchdog consider Pulte’s conduct worthy of independent scrutiny.

Separate Grand Jury Probe and Allegations of Improper Disclosures

Complicating matters, reporting indicates a federal grand jury in Maryland is examining whether Pulte and Department of Justice official Ed Martin improperly shared sensitive grand jury information with unauthorized individuals. Improper disclosure of grand jury material can violate Justice Department rules and, in extreme cases, lead to criminal exposure including obstruction of justice or contempt of court.

According to reporting, FBI agents have sought documents and interviewed witnesses about people who may have presented themselves as federal investigators acting on behalf of Pulte or Martin. Those investigative steps are consistent with probes into possible disclosure or procedural abuses.

Lawsuit and Potential Consequences

Representative Eric Swalwell, one of the officials Pulte referred to the DOJ, has filed suit alleging that Pulte abused his office and violated federal privacy statutes. As these overlapping investigations and legal actions proceed, Pulte faces mounting legal and political pressure that could carry serious professional or legal consequences depending on what investigators find.

At this stage, no criminal charges have been announced publicly against Pulte. The multiple, distinct inquiries—GAO review, grand jury investigation, and civil litigation—underscore the complexity of the situation and leave open a range of possible outcomes.

Note: Reporting cited includes accounts from NBC News and MS NOW. Investigations are ongoing and developments may change as officials disclose more information.