Mark Calabria has been sworn in as Director of the Federal Housing Finance Agency. He was confirmed by the U.S. Senate earlier in April. Calabria said he enters office with a “sense of urgency” to address vulnerabilities in the housing-finance system. In his first public remarks since taking office, he said Washington “must not let this opportunity for reform pass” concerning the mortgage finance system. Last week, Treasury Secretary Mnuchin said he wants Fannie and Freddie to be overhauled in the next six months. Calabria has said he will follow the lead of Congress, but also cited a recent memo on the subject by President Trump at his swearing-in.
Meanwhile, Adolfo Marzol was appointed principal deputy director of FHFA. He previously was senior advisor for housing to HUD Secretary Ben Carson, focusing on the FHA, Ginnie Mae and housing-finance reform.