Sandra Thompson, director of the Federal Housing Finance Agency, is set to step down on January 19, according to an agency spokesperson. This announcement comes at a crucial time for the US housing market, as the FHFA oversees two key players: Fannie Mae and Freddie Mac, as well as the Federal Home Loan Bank system.
Had Thompson chosen to remain in her position, President-elect Donald Trump would have had the authority to swiftly remove her following his January 20 inauguration, thanks to a recent US Supreme Court decision that eased the process of removing the FHFA director.
The timing of Thompson's resignation coincides with growing market anticipation that the Trump administration may move to release Fannie Mae and Freddie Mac from conservatorship. (The federal government took control of the companies during the 2008 financial crisis, providing a bailout of approximately $187.5 billion).
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
