President Donald Trump announced Tuesday that he is appointing Federal Housing Finance Agency Director William "Bill" Pulte to serve as acting director of national intelligence to replace Tulsi Gabbard.

In a post on Truth Social, Trump praised Pulte's leadership at the FHFA and his oversight of mortgage giants Fannie Mae and Freddie Mac.

"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," Trump wrote.

Trump said Pulte will remain FHFA director and chairman of Fannie Mae and Freddie Mac while serving in the intelligence post.

"Congratulations to Director Pulte!" Trump added.

This is a developing story. Check back for updates.