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Demarco to Leave FHFA After Leading Fannie Mae Conservatorship

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March 24 (Bloomberg) -- Edward J. DeMarco, who led the U.S. Federal Housing Finance Agency as acting director in the wake of the 2008 credit crisis, will leave the agency at the end of April.

DeMarco, who remained at FHFA as a deputy director after Melvin L. Watt took the helm in January, submitted a resignation letter today, the agency said in a statement.

“With the transition now well along, I believe the time has come for me to seek other opportunities,” DeMarco said in the letter. He didn’t specify his future plans.

DeMarco, a career bureaucrat, oversaw the conservatorship of Fannie Mae and Freddie Mac, the mortgage-finance companies seized by U.S. regulators in September 2008. He focused on improving the bottom line and conserving assets for taxpayers after the companies received a $187.5 billion bailout from the U.S. Treasury.

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To contact the reporter on this story: Clea Benson in Washington at cbenson20@bloomberg.net

To contact the editor responsible for this story: Maura Reynolds at mreynolds34@bloomberg.net

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