Businessman and philanthropist Bill Pulte, who founded the Detroit Blight Authority and whose family has long been connected with southeast Michigan, was confirmed by the U.S. Senate on Thursday to lead the Federal Housing Finance Agency for the Trump administration.

Bill Pulte was confirmed Thursday as FHFA director by the U.S. Senate, garnering some Democratic support in the final vote.

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.

Bill Pulte was confirmed as director of the Federal Housing Finance Agency after a majority of the Senate backed him to lead an agency that plays a key role in the US housing market through its oversight of Fannie Mae and Freddie Mac.

Fannie Mae and Freddie Mac, two of the biggest mortgage firms in the U.S. will not be privatized any time soon according to Bill Pulte

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

The U.S. Senate voted Thursday to confirm William Pulte to serve as the next director of the regulator charged with overseeing housing giants Fannie Mae and Freddie Mac. By a vote of 56 to 43, the Senate confirmed Pulte's nomination,