Trump’s enforcer Pulte works to reshape the Fed and investigate Democrats over mortgages

A relatively obscure housing regulator is emerging as one of President Trump’s loudest attack dogs.

Bill Pulte, director of the Federal Housing Finance Agency, is leading the charge against the Federal Reserve as the White House seeks better interest rates for borrowers.

Mr. Pulte, a 37-year-old with 3 million followers on X, is lambasting Fed Chair Jerome Powell every chance he gets and recently called for a criminal investigation into a Biden-appointed Fed governor, Lisa Cook, over allegations of mortgage fraud.

“I believe the President has cause to fire Lisa Cook,” Mr. Pulte wrote on social media.

That’s not all. Mr. Pulte referred New York Attorney General Letitia James and Sen. Adam B. Schiff, California Democrat, to Attorney General Pam Bondi for criminal prosecution. He alleges that they also engaged in mortgage fraud.

Mr. Pulte’s rise as a leading Trump enforcer is one of the more unusual plotlines in the president’s second term. Democrats say Mr. Pulte is helping Mr. Trump pursue political opponents, and White House supporters say Mr. Pulte is following the facts.

“Bill is on fire. He understands the tools we have available to hold these hypocrites accountable for their illegal behavior,” Sean Spicer, a first-term press secretary to Mr. Trump and host of “The Sean Spicer Show” podcast, told The Washington Times. “It’s great seeing the leftists that weaponized government held accountable.”

Mr. Trump appointed Mr. Pulte as director of the FHFA after the Northwestern University graduate earned notice for his philanthropic work.

Mr. Pulte founded the Blight Authority, a nonprofit organization that cleared out abandoned buildings and overgrowth in cities such as Detroit, St. Louis and Flint, Michigan. He has deep family roots in the homebuilding and community development sectors. In 2011, he founded Pulte Capital Partners to focus on building and housing products.

“Bill needs no formal introduction to the Great Citizens of our Country, because they have seen, and many have experienced, his philanthropy firsthand,” Mr. Trump wrote in his nomination announcement on Truth Social. “He believes in the incredible potential of our Nation, and will help us restore the American Dream FOR ALL.”

After his confirmation, Mr. Pulte shook up personnel at government-backed mortgage finance firms Fannie Mae and Freddie Mac and made himself board chairman.

He also injected himself into a fight over the Fed.

Mr. Pulte has been one of the harshest critics of Mr. Powell and the central bank, which this year refused to bow to Mr. Trump’s push for lower interest rates.

In June, Mr. Pulte said that, given the views of some Fed governors, momentum was building for Mr. Powell’s resignation.

“It is clear that Powell’s political bias against our great President needs to be looked at,” he wrote.

In July, the social media-savvy housing director posted: “I believe Jerome Powell is conducting economic warfare against America.”

He also played a key role in scrutinizing the cost of renovations at Fed headquarters in Washington. Mr. Trump toured the building —Mr. Pulte was in attendance — and asked whether the project could have been completed for far less money.

In a written statement, the White House said Mr. Trump wants to make it easier for Americans to afford a home by eliminating red tape and lowering costs and that the president has been clear about his displeasure with the Fed’s refusal to lower rates.

“The White House and the entire Trump administration are appreciative of Mr. Pulte’s efforts, and everyone is working together to implement the President’s policies,” White House press secretary Karoline Leavitt said.

Mr. Pulte is also the type of ally Mr. Trump likes the most.

Highly “dominant” leaders such as Mr. Trump “respect social dominance and toughness in others,” said Aubrey Immelman, an associate professor of psychology at the College of St. Benedict and St. John’s University in Minnesota who studies the personalities of U.S. presidents and foreign leaders.

“They have a dog-eat-dog view of the world and tend to perceive others in terms of strength and weakness,” he said.

Mr. Pulte’s aggressive tactics, particularly on social media, have simmered throughout the year but burst open with his drive to oust Ms. Cook.

Mr. Pulte said the Fed governor unlawfully listed two residences, one in Michigan and one in Georgia, as primary residences in 2021 and then listed the Georgia property for rent.

“This is the hottest story in the world right now,” Mr. Pulte said Thursday during an appearance on Fox Business’ “Mornings With Maria.” “This is why President Trump won in a landslide, because the people are sick and tired of this crap.”

In a statement through the Fed, Ms. Cook said she had “no intention of being bullied” and would “provide the facts” about her mortgage documents.

Democrats who have sparred with the Fed say they are concerned about Mr. Trump’s efforts to reshape the board.

“I’ve long been an advocate for holding Fed officials accountable. But anyone can see that for months now, President Trump has been scrambling for a pretext to intimidate or fire Chair Powell and members of the Federal Reserve Board while blaming anyone but himself for how his failed economic policies are hurting Americans,” said Sen. Elizabeth Warren, Massachusetts Democrat and ranking member of the Senate Banking Committee. “The president and his administration should not weaponize the federal government to illegally fire independent Fed Board members.”

Beyond the Fed, Mr. Pulte has raised concerns about Ms. James’ primary residence claims. Ms. James successfully sued Mr. Trump last year over his property claims, but a New York appeals court on Thursday threw out the massive penalty against the president, calling it excessive.

Mr. Pulte made similar mortgage fraud claims against Mr. Schiff, who helped lead impeachment proceedings against Mr. Trump in 2019 when he was in the House.

Ms. James and Mr. Schiff have called the allegations baseless and are resisting the investigations. The senator said it was “the kind of stuff you see tin-pot dictators do.”

Mr. Pulte’s agency said the director is following the facts and must raise concerns when evidence of potential fraud is presented to him.

“Director Pulte is committed to safeguarding the integrity of the housing and mortgage system,” the FHFA said in a statement to The Times. “Nobody is above the law.”