FHFA nominee Bill Pulte discloses investments in rental properties, HVAC firms and … MrBeast

Pulte, the scion of a namesake homebuilding empire founded by his grandfather, William J. Pulte, disclosed a stake in Pulte Capital Partners of more than $50 million. He also disclosed an interest in Mullett Holdings III, an HVAC repair and replacement holding company business, of more than $50 million.

Disclosure forms also showed interests in other HVAC companies, including PC Essential LLC in Florida; PC Absolute California LLC; Summit Air Conditioning and Heating in Las Vegas; Integrity Heating & Air in Dagsboro, Delaware; One Stop Heating and Air Conditioning in Salt Lake City; and Ideal Temp LLC in Grand Valley, Missouri.

Pulte also has a stake in YouTube star Jimmy Donaldson’s MrBeast entertainment company that is valued at $5 million to $25 million, and a stake in Elon Musk’s X of $1 million to $5 million.

He disclosed rental property assets with values of $5 million to $25 million each that are owned by the following LLCs:

• Pulte Properties LLC in Boca Raton, Florida
• Pulte Capital Rentals — rental properties in southeast Florida and one property in North Carolina
• Decentralized Land Income LLC — mixed residential properties in various states across the Southeast and Midwest
• Florida Income LLC, which owns mixed residential properties in Florida

Pulte said he would not divest from his investments but would recuse himself in any decision that affects the bottom line of his assets. If confirmed as FHFA director, he pledged to resign from 20 positions, including 17 involving entities in which he holds equity.

Pulte has, at times, feuded with management at PulteGroup. He claimed that a former incoming chief operating officer, Brandon Jones, used a burner account on X to harass and stalk him. Jones was fired and it sparked several lawsuits.

Pulte is better known for social media philanthropy on X than he is as a housing industry figure. He doesn’t have experience in Beltway politics and his work history doesn’t show any deep expertise in housing finance related to the government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac.

On Thursday, he’ll be peppered with questions regarding his vision for the GSEs, principally whether they should be removed from conservatorship, as the Trump administration has expressed an interest in doing. (Pulte hasn’t made public statements on that matter to date.)

Elizabeth Warren (D-Mass.), the minority leader of the Senate banking committee, issued her questions on Monday. She asked what other parties, including other federal agencies, Pulte expects to be involved if there is a move to end the conservatorships.

“What will your process be for deliberating and determining the best approach to ending the conservatorship? If you will seek an end to the conservatorships, what will be your key goals for outcomes post-conservatorship?” Warren said.