Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco has announced the appointment of Wanda I. DeLeo as Deputy Director, leading the newly-created Office of Strategic Initiatives. In this role, DeLeo will be responsible for coordinating and overseeing activities associated with the Strategic Plan for Fannie Mae and Freddie Mac Conservatorships.
“I am pleased to have an executive with Wanda’s experience to manage this critical Agency project,” said DeMarco. “Her proven management skills and experience are ideal to coordinate the numerous activities required at FHFA and Fannie Mae and Freddie Mac to achieve the goals set forth in the Strategic Plan.”
The Strategic Plan, which FHFA sent to Congress in February, established objectives and steps FHFA is taking or will take to meet its obligations as conservator. The plan identifies three strategic goals for the next phase of the conservatorships:
►Build a new infrastructure for the secondary mortgage market;
►Contract (gradually) the GSEs’ dominant presence in the marketplace, while simplifying and shrinking their operations; and
►Maintain foreclosure prevention activities and credit availability for new and refinanced mortgages.
DeLeo has served in a variety of leadership roles at FHFA, most recently as Deputy Director of the FHFA’s Division of Examination Programs and Support. Previously, DeLeo served as Acting Deputy Director for Housing Mission and Goals and the agency’s Chief Accountant. DeLeo will be the Agency’s central point of contact for all matters related to the Strategic Plan. Her immediate task will be to identify and organize key stakeholders, work streams and deliverables that flow from the plan.