The White House on Wednesday replaced the regulator overseeing mortgage giants Fannie Mae and Freddie Mac, hours after Supreme Court ruling allowed President Biden to remove the appointed Trump.
Why is it important: The removal of libertarian economist Mark Calabria as director of the Federal Housing Finance Agency (FHFA) gives Biden more control over the fate of Freddie and Fannie, “who play a huge role in the housing market and play a key role in the ability of many homeowners to afford housing. “according to The newspaper “New York Times…
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What’s happening: FHFA said in a statement On Wednesday night, Sandra Thompson, who previously served as Deputy Director of the Division of Housing Missions and Objectives, was named acting director of the agency.
What does she say: In a statement, Thompson promised to tackle housing issues more in line with the goals of the Biden administration.
“There is a widespread lack of affordable housing and access to credit, especially in communities of color,” she said.
“It is FHFA’s duty, through our regulated organizations, to ensure that all Americans have equal access to safe, decent and affordable housing.”
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