Waters Urges Biden to Tap Thompson for Fannie-Freddie Watchdog
- House Democrat says a person of color should lead FHFA
- Housing post has major sway over $10 trillion mortgage market
A key lawmaker is calling on President Biden to nominate Sandra Thompson, acting director of the Federal Housing Finance Agency, to lead Fannie Mae and Freddie Mac’s regulator on a permanent basis.
Maxine Waters, chair of the House Financial Services Committee, issued a statement Thursday endorsing Thompson and urging Biden to appoint a person of color to the FHFA job, which has significant influence over the $10 trillion mortgage market. Thompson, a long-time senior official at the agency, has been at the helm on a temporary basis since June when the Biden administration ousted her predecessor, a Trump appointee.
Waters’ endorsement is significant because it could lesson the chances that another potential candidate, Mike Calhoun -- who runs the Center for Responsible Lending -- will get the job. The Biden administration has considered naming Calhoun for the role, according to some analysts, but has not yet made an announcement.