DEPUTY DIRECTOR STEPHEN CROSS TO RETIRE FROM FHFA

(The following is a reformatted version of a press release
issued by The Federal Housing Finance Agency and obtained from
www.fhfa.gov.) 
December 12, 2012 
Deputy Director Stephen Cross to Retire from FHFA 
Washington, DC - Federal Housing Finance Agency Acting Director
Edward J. DeMarco today announced that Stephen Cross, FHFA’s
Deputy Director of the Division of Federal Home Loan Bank
Regulation, will retire from the Agency in March, 2013. An
important part of FHFA’s leadership team since the Agency was
created, Cross has served in the position since October 2008. In
addition to leading FHFA’s program for regulating and
supervising the Federal Home Loan Banks, Cross also served as
the acting Chief Operating Officer from September 2009 to
December 2011. 
“Steve Cross has served a vital role at FHFA during a period of
upheaval in the housing and financial markets and significant
development and change at FHFA,” said DeMarco. “We are grateful
for his oversight of many important and positive developments at
the FHLBanks as they continue to strengthen their condition in
the wake of the financial crisis, as well as many other
contributions to this agency.” 
“It has been a privilege to work with a dedicated group of
professionals at the FHFA,” said Cross. “I am humbled by the
opportunities I was provided, and I am proud of the quality of
our supervision of the FHLBanks during a period of challenge and
change for the FHLBanks and the housing finance system as a
whole.” 
Cross joined the Federal Housing Finance Board, one of the
predecessor agencies to FHFA, in 2002 as the Director of the
Finance Board’s Office of Supervision. Previously he served as
the Director of the Federal Deposit Insurance Corporation’s
Division of Compliance and Consumer Affairs and as the Deputy
Comptroller for Community and Consumer Policy with the Office of
the Comptroller of the Currency. 
Cross will play an integral part in facilitating the search for
and transition to a new Deputy Director of the Division of
Federal Home Loan Bank Regulation and to oversee the completion
of the 2012 Bank examinations. 
The Federal Housing Finance Agency regulates Fannie Mae, Freddie
Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.7 trillion in funding
for the U.S. mortgage markets and financial institutions. 
Contact:
Corinne Russell
(202) 649-3032 
Stefanie Johnson
(202) 649-3030 
(bjh) NY 
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