One day after the Senate’s confirmation of Rep. Mel Watt, D-NC, as the new head of the Federal Housing Finance Agency, FHFA Acting Director Edward DeMarco last week announced senior staff changes and a significant reorganization of the agency’s internal structure. The Finance Agency will be combining two offices managing conservatorship-related matters into a new Division of Conservatorship to be led by Wanda DeLeo, currently serving as the FHFA’s deputy director in the Office of Strategic Initiatives.