As previously reported, Mel Watt’s term as the director of the FHFA ended on January 6. Joseph Otting, currently the Comptroller of the Currency, will serve as acting director of the FHFA until a new director is confirmed. Mark Calabria has been nominated by the President and is currently awaiting Senate confirmation to permanently replace Watt. If Calabria is confirmed, Otting will step down.
Executive level changes continue at HUD when the current acting President of Ginnie Mae, Michael Bright, announced he will step down on January 16 and no longer seek confirmation for that role. Bright took over as acting President in July 2017 and the agency has been without permanent leadership for two years. Maren Kasper will serve as the Acting President after Bright steps down. This comes on the heels of the resignation of Pamela Patenaude as Deputy Secretary of HUD last month.
NMHC/NAA will continue to keep members apprised of ongoing leadership changes within the agencies. For more information on GSEs and Housing Finance Reform, please visit our advocacy page.