• President Trump appoints Bill Pulte as acting Director of National Intelligence, while he remains head of the Federal Housing Finance Agency.
  • Trump claims Pulte manages a $10 trillion housing portfolio and brings national security experience.
  • The dual role raises questions about housing policy and intelligence oversight.

President Donald Trump has named Bill Pulte as the acting Director of National Intelligence (DNI), a role Pulte will hold concurrently with his position as director of the Federal Housing Finance Agency (FHFA), according to a statement from the White House. The move, announced late Thursday, consolidates two critical roles that oversee vast swaths of the U.S. economy and national security apparatus.

Trump touted Pulte's credentials, claiming he oversees a $10 trillion housing portfolio and brings national security expertise. “Bill has done an incredible job at FHFA, managing a massive portfolio that touches nearly every American homeowner. His national security experience will be invaluable as we protect our country,” Trump said in a statement. The White House did not provide details on Pulte's national security background, but people familiar with the matter noted his previous work in financial intelligence.

Pulte, who became FHFA director in 2020, has overseen the conservatorship of Fannie Mae and Freddie Mac, which together guarantee trillions of dollars in mortgages. His appointment as acting DNI, pending Senate confirmation for the permanent role, has raised eyebrows among lawmakers and industry observers. Critics argue that combining housing finance and intelligence duties could overburden Pulte and create conflicts of interest. “It’s unprecedented to have one person helm two such consequential agencies,” said a former senior Treasury official, speaking on condition of anonymity. “The DNI’s role is to coordinate intelligence, not manage mortgage markets.”

Supporters counter that Pulte's unconventional background could bring fresh perspective to the intelligence community. His track record at FHFA includes efforts to reform the housing finance system, though some of those initiatives have stalled. “He’s a sharp operator who knows how to manage complex portfolios,” said a former FHFA colleague. “The dual role may actually help align housing policy with national security priorities.”

Market reactions were muted, with mortgage rates ticking up slightly as investors digest the news. The appointment comes as the Trump administration pushes for greater oversight of foreign investment in U.S. real estate, a topic Pulte has addressed in the past. Without a confirmed DNI, the acting appointment ensures continuity, but critics worry about the potential for politicization of intelligence.

Correction: An earlier version of this article misstated Pulte's title. He is acting DNI, not permanent DNI. The headline has been updated accordingly.