White House taps insider to run agency that oversees Fannie, Freddie

President Joe Biden introduced that he’ll nominate Sandra L. Thompson to guide the Federal Housing Finance Company. Thompson has served because the company’s interim director since June after the president fired the company’s earlier director, Mark Calabria.
Biden’s capacity to fireplace Calabria, who had been appointed by President Trump in 2019, was granted through a Supreme Court docket determination in a case involving shareholders of Fannie Mae and Freddie Mac. The FHFA is the principle regulator overseeing the mortgage giants.
In accordance with the White Home, Thompson has 4 a long time of presidency expertise. Earlier than she joined the FHFA, she labored on the Federal Deposit Insurance coverage Corp.