American Banker: Mortgage execs begin lobbying FHFA to lift lender sales cap

American Banker, June 24, 2021, Mortgage execs begin lobbying FHFA to lift lender sales cap

President Biden’s replacement for Federal Housing Finance Agency Director Mark Calabria stands to significantly alter the direction of the government-sponsored enterprises and the guessing game as to who will be named has begun.

Current FHFA Deputy Director Sandra Thompson was named to the post on an acting basis Wednesday night. Possible permanent replacements for Calabria include economist Mark Zandi and Julia Gordon, president of the National Community Stabilization Trust and a former FHFA official.

Jesse Van Tol, CEO of the National Community Reinvestment Coalition urged the next director to “act immediately to revisit a number of recent policies that undermine the role of the GSEs the market, mortgage rates and mortgage products, including the December rule around their capital requirements and the program and product restrictions included in the January amendments to the FHFA-Treasury Preferred Stock Purchase Agreements.”