Biden to nominate Sandra Thompson as head of Federal Housing Finance Agency

BY Reuters | AGENCY | 12/14/21 11:03 AM EST

By Pete Schroeder

WASHINGTON, Dec 14 (Reuters) - U.S. President Joe Biden will nominate Sandra Thompson as director of the Federal Housing Finance Agency, the White House said in a statement on Tuesday.

Thompson has served since June as the acting head of the agency, which oversees Fannie Mae (FNMA) and Freddie Mac (FMCC), two government-sponsored enterprises that guarantee roughly half of U.S. mortgages. She has worked at the FHFA since 2013, and before that was a longtime staffer at the Federal Deposit Insurance Corporation.

If confirmed by the Senate, Thompson would receive a five-year term at the agency. However, a recent Supreme Court ruling found that the president has the ability to remove the FHFA director at will.

The FHFA director oversees Fannie and Freddie, private companies with a government charter that have operated under a government conservatorship since a 2008 bailout. (Reporting by Doina Chiacu; Editing by Chris Gallagher and David Gregorio)

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