NAR Applauds President Biden’s Appointment as FHFA Director

The National Association of REALTORS® has applauded President Joe Biden’s appointment of the Acting Director of the Federal Housing Finance Agency, Sandra Thompson, to a permanent position. “His talents and experience will benefit businesses, homeowners and homebuyers, and the mortgage financing ecosystem,” NAR President Leslie Rouda Smith said in a press release.

Thompson, who has served as deputy director of FHFA’s Housing Mission and Purpose Division since 2013, has more than 40 years of government experience in financial regulation, risk management and consumer protection. , the Biden administration said in a statement. Release. Prior to joining FHFA, Thompson worked at the Federal Deposit Insurance Corporation for more than 23 years.

Rouda Smith noted the historic challenges the real estate market and the mortgage finance system are currently facing due to the pandemic, adding that more than one million borrowers are now in some form of forbearance or default.

“Preserving homeownership or helping landlords navigate a transition to rental and future homeownership will be an immediate challenge,” Rouda Smith said in the release. “We look forward to working with FHFA to continue to identify solutions to these challenges, as well as working together to clarify and cement the essential role of GSEs in the housing finance system.”

In her previous role as Deputy Director, Thompson oversaw all mission activities for Fannie Mae, Freddie Mac and the Federal Home Loan Banks, among other duties.

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