ELS - Biden tap acting FHFA director to head Fannie Mae Freddie Mac overseer

President Biden will nominate Sandra L. Thompson to lead the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae (OTCQB:FNMA +0.2%) and Freddie Mac (OTCQB:FMCC +0.5%), as well as the Federal Home Loan Bank system. Thompson has been in the role of acting director of the FHFA since June, replacing Mark Calabria, who had been President Trump's pick for the agency. She had been the deputy director of the FHFA's Division of Housing Mission and Goals since 2013. Before working at the FHFA, she worked at the Federal Deposit Insurance Corp. for 23 years. If her nomination is confirmed, Thompson will have a five-year term leading the agency. BTIG analyst Isaac Boltansky expects a Thompson-led FHFA will focus on "expanding the credit box for low-and moderate-income borrowers, reviewing the GSE pricing construct, and overseeing the expansion of GSE credit risk transfers." That's likely to bode well for firms serving

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Biden tap acting FHFA director to head Fannie Mae, Freddie Mac overseer