Trump administration dismisses 12 senior Fannie Mae officials

The involuntary departures included positions eliminated as artificial intelligence capabilities expand, according to an official

The Trump administration dismissed 12 senior officials from Fannie Mae this week as it moves to remake the mortgage giant, according to an official familiar with the matter.

The 12 positions were eliminated Wednesday, and all departures were involuntary, the official said. Some jobs were cut because of the increasing capabilities of artificial intelligence. It was not immediately clear which positions were affected.

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, did not immediately comment. The departures were previously reported by The Wall Street Journal.

The changes come as President Donald Trump continues to consider a public offering of shares in Fannie Mae and Freddie Mac. He said in June that the option remained under consideration but that there was no rush.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

The Trump administration dismissed 12 senior officials from Fannie Mae this week as it moves to remake the mortgage giant, according to an official familiar with the matter.

The Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac, did not immediately comment. The departures were previously reported by The Wall Street Journal.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.