Federal Housing Finance Agency (FHFA) Director Sandra Thompson will leave her position on Jan. 19, the day before the inauguration of President-elect Donald Trump, according to a spokesperson for the center who spoke to Bloomberg.
Thompson first joined the FHFA following a 23-year stint at Federal Deposit Insurance Corp. (FDIC) before becoming its deputy director in 2013. After President Joe Biden takes office in 2021 – and beyond US Supreme Court a decision that gives the president the power to fire the agency’s director — Biden fired then-acting FHFA director and Trump nominee Mark Calabria and replaced Thompson as acting.
In December 2021, Biden appointed Thompson to the position of permanent director pending The Senate confirmation, let’s get it in May 2022.
Thompson’s exit immediately preceded the installation of the second Trump administration. In the 2024 campaign, the president-elect’s allies are renewing the Republican’s long-sought policy goals of ending federal ownership of state-sponsored enterprises (GSEs). A possible first step in that direction was made last week when the US Treasury and FHFA announced an agreement to amend Preferred Purchase Agreements (PSPAs) and Fannie Mae again Freddie Mac.
Thompson led the FHFA through a turbulent time in the US housing market. While the agency has recently stepped up its efforts to prevent foreclosures, the actual rate of foreclosures has also increased, and some of Thompson’s proposed policies during his leadership have gained traction. Congress – sometimes on a bipartisan basis.
The same Supreme Court decision that allowed him to assume a leadership role would have allowed Trump to fire him once he took office.
Related
Source link
