04/11/2025
Mass Firing at Fannie Mae Tied to Fraud, Double-Dipping, and Remote Work from China, Says FHFA Chief
Over 100 employees terminated in sweeping internal probe; Pulte drops bombshells on national TV
By Sal Sampone/Sal's Corner
April 10, 2025
Fannie Mae is in crisis mode after the termination of more than 100 employees allegedly involved in fraudulent activities and unauthorized remote work from foreign countries—including China. Federal Housing Finance Agency (FHFA) Director Bill Pulte dropped the explosive revelations during a blunt interview on Fox News Wednesday night.
Pulte didn’t hold back. He confirmed that the firings stemmed from an internal investigation that uncovered blatant abuse of Fannie Mae’s internal charity—employees were allegedly donating to the fund and receiving kickbacks. The scheme, as described by Pulte, points to clear-cut fraud within the organization.
But that wasn’t the only bombshell. Pulte went on to say that location audits uncovered employees logging in from China while time-stamping their workday from U.S. locations—suggesting others may have been swiping badges on their behalf.
“People were getting friends or family to swipe them in while they were actually working from China,” Pulte said flatly. “We’re not talking about one or two people—this was organized abuse.”
He also revealed that some employees were secretly holding down multiple full-time jobs, raising further questions about Fannie Mae’s internal controls and oversight failures.
While Fannie Mae’s code of conduct doesn’t entirely ban outside employment, it does mandate strict disclosures and restrictions—rules that appear to have been widely ignored.
“Make no mistake, this isn’t just some minor HR infraction,” a source close to the investigation said. “This is systemic, and it’s serious.”
Fannie Mae has yet to issue a full public accounting of the firings or the scope of the alleged misconduct. But Pulte’s comments have thrown a spotlight on what appears to be a massive breakdown in both ethics and accountability at the government-sponsored enterprise.
More details are expected as the investigation continu
