Calabria Seeking Summer Release of GSE Plan
New Federal House Finance Agency Director Mark Calabria said he is working with the Treasury and Housing and Urban Development departments to develop concrete plans for Fannie Mae and Freddie Mac by mid-summer.
Speaking in Washington before the National Association of Realtors, Calabria said he is working to end the conservatorship of the government-sponsored enterprises by setting milestones for recapitalization and developing a robust post-conservatorship supervisory framework. President Trump is slated to address NAR on Friday.
Calabria was sworn in as FHFA director last month, citing a “sense of urgency” to address vulnerabilities in the housing-finance system.
ICBA has met with Calabria several times prior to his nomination and continues calling on policymakers to end the net-worth sweep of Fannie and Freddie earnings and recapitalize the enterprises.