The U.S. Senate Committee on Banking, Housing, and Urban Affairs recently voted to approve several Presidential nominees to be considered for confirmation by the full Senate. NAR sent a support letter for several of the nominees including: Dr. Mark Calabria to be Director of the Federal Housing Finance Agency (FHFA); Mr. Todd Harper to be a Member of the National Credit Union Administration (NCUA) Board; the Honorable Rodney Hood to be a Member of the NCUA Board; Mr. Bimal Patel to be the Assistant Secretary for the Department of Treasury; and Mr. Seth Daniel Appleton to be the Department of Housing and Urban Development’s (HUD) Assistant Secretary for Policy Development and Research.
On February 26, the Senate Banking Committee voted 13-12 along party lines to approve Mark Calabria to lead the FHFA. The other nominees NAR supported were also approved by the Committee by voice vote. Next, the full Senate will need to confirm each of these nominees, which could begin as early as next month.
NAR has been specifically focused on leadership changes at the FHFA and potential Congressional action regarding secondary market reforms, recently spearheading new research that debuted at the inaugural Policy Forum on housing finance reform earlier this month. NAR’s vision promotes a reliable and affordable source of mortgage capital for American consumers by advocating for reforms that secure a government guarantee, promote equal access for lenders of all sizes, protect the 30-year fixed rate mortgage, and increase consumer affordability and access.