The Federal Housing Finance Agency, which regulates Freddie Mac and Fannie Mae, last week said it will no longer defend its single-director leadership structure.
As the former director of financial regulation studies at the Cato Institute, Mark Calabria brings a decidedly libertarian perspective to housing finance.
Rep. Waters to Mick Mulvaney: “I am writing to inform you that while your time running the Consumer Bureau may be over, the time for accountability for your actions is about to begin.”
Fannie and Freddie addressed that problem by beginning to structure CAS and STACR transactions as real estate mortgage investment conduits – which REITs can buy more freely.