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Wall Street Puts Blame on Calabria for Blocking Mortgage Aid

  • For now, FHFA’s chief opposes rescue of mortgage servicers
  • Critics say he’s putting his ideology ahead of common sense
Mark Calabria
Mark Calabria
Updated on

With the coronavirus crisis crushing the real-estate market, some on Wall Street are assailing a U.S. official who they blame for blocking a government bailout of mortgage lenders.

That man isn’t Treasury Secretary Steven Mnuchin or Federal Reserve Chairman Jerome Powell, who are leading Washington’s effort to rescue the economy. Rather, the target of ire is Federal Housing Finance Agency Director Mark Calabria, a libertarian economist whose job is regulating mortgage giants Fannie Mae and Freddie Mac.