American Banker: 7 Candidates to Lead Fannie and Freddie’s Regulator

American Banker, July 8, 2021, 7 Candidates to Lead Fannie and Freddie’s Regulator

Following President Joe Biden’s June 23 ouster of Mark Calabria, speculation has intensified about the administration’s pick to run the Federal Housing Finance Agency and therefore chart a new path for the mortgage giants Fannie Mae and Freddie Mac.

It remains to be seen how quickly Biden will nominate a permanent FHFA director. After all, he has yet to send Congress a name for another key financial regulatory position: the head of the Office of the Comptroller of the Currency. But given how quickly the administration moved to fire Calabria after a key Supreme Court decision and how important housing is to the economic recovery, a nomination could come soon.

After the Supreme Court ruled June 23 that the president has the authority to fire the FHFA director at will, Biden exercised that power almost immediately. Later in the day, senior FHFA official Sandra Thompson was named acting director of the agency.

Calabria, a libertarian economist appointed by then-President Donald Trump, took the helm of the FHFA in April 2019 and made clear his goal from the start of putting the government-sponsored enterprises on a path out of conservatorship.

Print Friendly, PDF & Email

Redlining and Neighborhood Health

Before the pandemic devastated minority communities, banks and government officials starved them of capital.

Lower-income and minority neighborhoods that were intentionally cut off from lending and investment decades ago today suffer not only from reduced wealth and greater poverty, but from lower life expectancy and higher prevalence of chronic diseases that are risk factors for poor outcomes from COVID-19, a new study shows.

The new study, from the National Community Reinvestment Coalition (NCRC) with researchers from the University of Wisconsin–Milwaukee Joseph J. Zilber School of Public Health and the University of Richmond’s Digital Scholarship Lab, compared 1930’s maps of government-sanctioned lending discrimination zones with current census and public health data.

Table of Content

  • Executive Summary
  • Introduction
  • Redlining, the HOLC Maps and Segregation
  • Segregation, Public Health and COVID-19
  • Methods
  • Results
  • Discussion
  • Conclusion and Policy Recommendations
  • Citations
  • Appendix

Complete the form to download the full report: