Pulte’s Budget Cuts to Hit Up to 80% of FHFA Watchdog Staff

The watchdog overseeing the Federal Housing Finance Agency said it may cut up to 80% of its staff and halt most criminal investigations after FHFA Director Bill Pulte announced major budget reductions. The cuts could materially weaken oversight of the U.S. housing-finance regulator, increasing governance and enforcement risk across the mortgage-finance system.