U.S. President Donald Trump has announced he will tap Bill Pulte, a sitting Federal Housing Finance Agency (FHFA) director from a prominent American homebuilding dynasty, to serve as acting Director of National Intelligence (DNI) when current officeholder Tulsi Gabbard departs at the end of June. The unexpected pick, which puts a private equity financier with no documented professional background in national security or intelligence in charge of the U.S. intelligence community’s 18 member agencies, has quickly ignited fierce criticism from Democrats and raised quiet concerns among Republican lawmakers.
In an official announcement posted to his social media platform Tuesday, Trump lauded Pulte’s leadership of FHFA, the regulatory body that oversees government-sponsored mortgage giants Fannie Mae and Freddie Mac, which underpin liquidity in the U.S. housing market by purchasing and securitizing home loans. Trump highlighted Pulte’s stewardship of the more than $10 trillion in assets held by the two entities, a marked jump from levels 12 months prior. Under the acting appointment, Pulte will retain his existing roles as FHFA director and chairman of both Fannie Mae and Freddie Mac.
“William has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 Trillion Dollars at Fannie Mae/Freddie Mac, a substantial increase from where it was just 12 months ago,” Trump wrote in his post. “During this period, he will remain Director of the Federal Housing Finance Agency, and Chairman of Fannie Mae/Freddie Mac. Congratulations to Director Pulte!”
Critics across the political spectrum have pushed back hard on the appointment, pointing to longstanding allegations that Pulte has already abused his regulatory authority at FHFA to target Trump’s political opponents through baseless mortgage fraud criminal referrals. Among the high-profile figures Pulte has targeted include California Democratic Senator Adam Schiff, New York Attorney General Letitia James, former Federal Reserve Chair Jerome Powell and current Federal Reserve Governor Lisa Cook. None of these referrals have resulted in criminal convictions, and the nonpartisan Government Accountability Office is already investigating whether Pulte altered FHFA’s internal investigation processes to enable these politically motivated probes. Pulte has also openly supported Trump’s efforts to oust sitting Federal Reserve leadership, aligning his regulatory work with the president’s policy and political goals.
Democratic leaders on the Senate Intelligence Committee were the first to condemn the move. “This appointment speaks volumes about what this president expects from the nation’s top intelligence official,” said Senator Mark Warner, the committee’s top Democratic member. “Rather than selecting a respected national security professional capable of delivering independent judgments, the president has chosen an official who has demonstrated not just willingness but eagerness to use the authorities of government to pursue political retribution.”
Schiff, one of Pulte’s earlier targets, echoed that criticism in a post to X, writing that Pulte “politicized and weaponized the housing agencies and will do the same in the intelligence community.”
Even some congressional Republicans have expressed skepticism about Pulte’s qualifications. Texas Senator John Cornyn, who lost his 2026 Republican primary nomination after Trump endorsed his primary challenger, told reporters Wednesday: “I don’t see any evidence of his qualifications for that job, but I’m willing to listen.”
Under U.S. federal law, acting agency heads may only serve a maximum of 210 days without Senate confirmation. That timeline means Pulte’s acting appointment will automatically expire in late January 2027 if the Senate does not vote to confirm him to the permanent role.