Mortgage Regulator Shares 13 Agency Orders on Personal X Account

The Unusual Use of Social Media by a Federal Housing Official

Bill Pulte, the head of the Federal Housing Finance Agency (FHFA), has drawn attention for his unconventional use of social media, particularly the platform X (formerly Twitter). In recent months, he has used his personal account to share official orders that are not publicly posted elsewhere. This practice has raised concerns among former agency officials and legal experts about transparency and the legality of such actions.

Pulte, who previously gained notoriety for posting on X under the handle @pulte, is known for his frequent posts about charitable acts, such as sending groceries and gas money to people in need. However, since taking on his role at the FHFA in March, he has continued to use the platform as a communication tool. Over the past six months, he has shared at least 13 official orders on his personal account—none of which appear to be published anywhere else.

This approach is unusual for someone leading an agency responsible for regulating Fannie Mae and Freddie Mac, two key players in the $21 trillion residential mortgage market. While previous FHFA leaders have varied in their methods of publishing orders, most have followed some form of public disclosure through the Federal Register or the agency's website. Some orders were also circulated via email, but none were shared exclusively on social media.

Former FHFA employees expressed confusion over this new method of communication. Janell Byrd-Chichester, who served as the FHFA’s chief of staff from 2014 to 2019, called Pulte's social-media use "very bizarre" and out of step with past practices. She noted that it was highly unusual for government officials to rely on platforms like X for official communications.

Legal experts have also raised concerns. David Reiss, a law professor at Cornell University, pointed out that if someone were to sue based on an order only posted on X, courts might question whether the action complied with the Administrative Procedure Act. He emphasized that impacted parties could argue that carrying out official acts through social media does not meet legal standards.

Pulte has defended his actions, stating in an interview that he has already signed 80 orders. Victoria Nahrwold, a former senior official at the FHFA, mentioned that while she worked at the agency, she followed Pulte on X to stay informed about developments. She noted that some of the orders he posted were also circulated by email, though this was not consistent.

One of the more controversial orders involved instructing Fannie Mae and Freddie Mac to consider cryptocurrency assets in mortgage underwriting. Another rolled back climate change and tenant protection requirements. These directives did not appear on any government websites, despite being shared on Pulte’s X account.

The FHFA has not responded to questions about Pulte’s posts, and Pulte himself has not commented on the matter. Despite the controversy, the agency remains relatively obscure, having been created in 2008 to strengthen oversight of Fannie Mae and Freddie Mac during a period of widespread mortgage defaults.

However, Pulte recently gained attention after accusing Federal Reserve Governor Lisa Cook of mortgage fraud. Reports suggest that his posts about Cook may violate the Privacy Act. Pulte claimed in a Bloomberg TV appearance that he only shared public information.

Additionally, Pulte owns shares in X valued between $1 million and $5 million, according to financial disclosures. Although he deleted many of his posts after Trump’s election in 2024, he resumed posting frequently, often targeting political opponents.

While the orders Pulte shared on X may not be the most significant issues facing the FHFA, they have sparked broader discussions about the future of Fannie Mae and Freddie Mac. The Trump administration’s plan to sell part of the U.S. Treasury’s stake in these companies could generate billions for the government but might also impact their ability to build a capital cushion for future housing downturns.

As the debate continues, the role of social media in government communication remains a pressing issue, with implications for transparency, accountability, and public trust.