Fannie Mae is facing a fresh leadership crisis after between 10 and 12 senior executives were fired or departed, with eliminated roles spanning multifamily lending, low-income housing tax credits, finance, regulatory affairs and communications. Some executives were told on Wednesday that their positions had been eliminated, indicating that at least part of the reduction was involuntary. Bill Pulte, Director of the Federal Housing Finance Agency (FHFA), attributed the changes to technology and process streamlining. The departures add to earlier turmoil, including the October 30 dismissal of roughly a dozen senior ethics and internal investigations officials as part of a broader reduction affecting approximately 62 employees. Fannie Mae and Freddie Mac, which remain under federal conservatorship and together guarantee or hold nearly half of U.S. residential mortgages, are central to the system that enables lenders to offer 30-year fixed-rate mortgages. The latest cuts have raised concerns about operational resilience as bond-market volatility, higher mortgage costs and AI-related cybersecurity risks pressure the housing-finance system.