The Senate has confirmed Bill Pulte as the director of the Federal Housing Finance Agency by a vote of 56-43. This appointment positions Pulte at the forefront of a contentious debate over the future of Fannie Mae and Freddie Mac.

Pulte talked about pulling the GSEs out of conservatorship and vowed to fix underperformance of Fannie and Freddie "effective immediately!"

The Senate voted 56-43 to confirm Bill Pulte, a businessman with ties to Michigan, to serve as director of the Federal Housing Finance Agency.