Yesterday, the U.S. Senate confirmed Mark Calabria as the new director of the Federal Housing Finance Agency (FHFA).
Jesse Van Tol, CEO of the National Community Reinvestment Coalition (www.ncrc.org), made the following statement:
“I want to congratulate Mark Calabria on his confirmation. We have worked with him over the years.
“There have been numerous announcements made recently by the administration and Senate Banking Chairman Mike Crapo (R-ID) regarding the future of the nation’s housing finance system and the conservatorship of Fannie Mae and Freddie. We look forward to working with Calabria in ensuring that the GSEs and any successor, or other secondary market entities, continue to have and meet robust affordable housing obligations, including strong affordable housing goals.
“There are a number of proposals on the table to eliminate or weaken existing affordable housing obligations and to further limit access to the affordable mortgage credit made possible by the GSEs guarantees and FHA insurance. We’re eager to work with FHFA and its new director to make sure affordable home ownership remains within reach for low- and moderate-income Americans and a cornerstone of the housing finance system.”