President Trump has announced a major reshuffle at the top of America’s intelligence leadership by appointing Federal Housing Finance Agency Director William J. Pulte as Acting Director of National Intelligence to replace Tulsi Gabbard.

In his announcement, Trump cited Pulte’s deep experience managing sensitive financial matters, stating: “William has deep experience managing the most sensitive matters in America, the safety and soundness of the Markets, and over 10 Trillion Dollars at Fannie Mae/Freddie Mac.”

The president emphasized that Pulte will retain his existing roles as Federal Housing Finance Agency Director and Chairman of Fannie Mae and Freddie Mac while serving in the intelligence post.

Tulsi Gabbard resigned from the position to support her husband following a rare diagnosis of bone cancer. During her tenure, she led efforts to declassify a range of government records and pursued broader reforms within the intelligence community. Her departure is scheduled to take effect on June 30.

The move comes as President Trump overrode earlier expectations that Principal Deputy Director Aaron Lukas would assume the acting role after Gabbard’s exit.

Pulte, who previously led the Federal Housing Finance Agency, has no prior experience in national intelligence. His background includes founding Pulte Capital Partners LLC and serving on the board of Pulte Homes, a Fortune 500 homebuilder. He also founded the Blight Authority nonprofit to combat urban blight in several U.S. cities.

The White House did not specify when Pulte’s tenure as acting director will begin or how duties will be divided during the transition period.

If Pulte is later nominated for a permanent role, he would require Senate confirmation.