The top official at the Office of Federal Housing Enterprise Oversight stepped down from his post last week, but there are few indications that the White House is in any hurry to find a replacement. Armando Falcon joined OFHEO during the Clinton administration and presided over the rockiest – and perhaps final – years of the 13-year-old agency. His reputation as a regulator reached a low when Freddie Mac announced in June 2003 that it