Warren and Schumer warn spy chief Pulte on housing regulator role

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Two key Senate Democrats are pushing Bill Pulte to prove that he's still fulfilling his duties as the nation's top housing regulator now that he's also taken over as acting spy chief — or resign instead.

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Massachusetts Senator Elizabeth Warren and Minority Leader Chuck Schumer called on the Federal Housing Finance Agency director, who last month became acting director of national intelligence, to relinquish his FHFA position "if you are unwilling or unable to dedicate yourself fully to the role for which you were confirmed and help to lower housing costs for Americans," in a letter Sunday. 

"We are concerned that your capacity to address the nation's worsening housing crisis has been significantly impaired by your serving in a role that has nothing to do with your responsibilities at FHFA," Schumer and Warren, the top Democrat on the Senate Banking Committee, wrote.

READ MORE: Fannie, Freddie shares dip as Pulte's added role raises questions

"Your acceptance of the role as acting DNI suggests that you may be more interested in using your position in the federal government to continue serving the President's political agenda than in lowering housing costs for American families," Warren and Schumer added, and "raises further questions about your potential abuses of authority."

The enactment this month of the biggest housing legislation in a generation "underscores the need for a dedicated FHFA director who will prioritize its implementation," they wrote.

Warren and Schumer requested that Pulte hand over copies of his official calendars and provide a detailed summary of how he is allocating his time between the two roles by July 31. They also called for a detailed summary of FHFA's progress on lowering housing costs and boosting affordability by Aug. 7.

FHFA pushed back on the criticism. 

READ MORE: FHFA requests power to pursue fraud more directly

"President Trump and Director Pulte have helped provide incredibly tight mortgage spreads, after 4 years of sky high interest rates and inflation under Joe Biden," FHFA spokesman Jonathan Coppage said. "Elizabeth Warren has done nothing, literally zero, to drive mortgage affordability."

Trump nominated Jay Clayton to take over the DNI role full-time, amid fallout on Capitol Hill over the Pulte appointment. The Senate will vote Monday on a procedural motion to advance Clayton's nomination.