Fannie, Freddie Drop as Pulte Spy Job Fans Doubts on Trump Plans

Fannie Mae and Freddie Mac shares fell after President Donald Trump appointed Bill Pulte, the head of the Federal Housing Finance Agency, as his acting director of National Intelligence.

Pulte is set to remain in his role as FHFA director and chairman of Fannie and Freddie, the mortgage giants that have been under government control since the US housing crash unleashed the global financial crisis.

But the dual appointment is sowing doubts that it will delay long-standing plans to start selling the government’s stake in the two companies. Those hopes pushed the shares up sharply ...