U.S. Senate Banking Committee Approves Federal Housing Finance Agency Nominee

Mark Calabria was approved by the Senate Banking Committee on a party-line vote (13-12) to advance his nomination to the full Senate for confirmation as Director of the Federal Housing Finance Agency (FHFA). The FHFA Director oversees the government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac, as well as the Federal Home Loan Bank (FHLB).

Calabria is currently the chief economist for Vice President Mike Pence, and housing advocates expressed concern with his prior statements and opinions about the future of the GSEs. During the hearing, Calabria pledged that his job as FHFA director would be to carry out legislation passed by Congress, as opposed to his own preferred administrative changes. He also affirmed support for the FHLB Affordable Housing Goals, contributions from Fannie and Freddie to the National Housing Trust Fund, and other important housing programs.  

Read more from the National Council of State Housing Agencies.