The agency has begun to assemble the team that is supposed to deliver on the new director's plans for housing-finance reform. So far, the industry is impressed.
Bucking national trends, the percentage of women employees at the FHFA has been declining since 2014. Minorities continue to see incremental advances in representation in the workforce.
Fannie and Freddie continued to meet FHFA's strategic goals: maintaining credit access, preventing foreclosures, reducing taxpayer risks and building securitization infrastructure.
The new hire is part of the growing link between the agency, HUD, and the White House. Whether that’s a political asset or a liability remains to be seen.
Last week, Joseph Otting, the then-acting director of the Federal Housing Finance Agency, set the GSE rumor mills churning when he told an audience at George Mason University Law School that the agency would finish work this summer on the final capital rule for Fannie Mae and Freddie Mac.
In a straight, party-line vote, the Senate Thursday confirmed conservative economist Mark Calabria to be the next director of the Federal Housing Finance Agency.
As usual, the Trump administration’s proposed annual budget appears to be dead on arrival. It simply steps on too many legislative toes. Among the issues the budget will face is how Congress reacts to its treatment of Fannie Mae and Freddie Mac.
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