News of the nomination leaked earlier this week
. If confirmed, Calabria would take on a five-year term at the helm of the regulatory agency; the current Director, Mel Watt, is leaving next month at the conclusion of his term.
Calabria is currently the Chief Economist for Vice President Mike Pence and was previously Director of Financial Regulation Studies at the Cato Institute. Earlier in his career, he was Deputy Assistant Secretary for Regulatory Affairs at the Department of Housing and Urban Development.
Robert D. Broeksmit, President and CEO of the Mortgage Bankers Association, welcomed the nomination, noting that Calabria “has a deep background in housing finance issues and we have enjoyed a good working relationship with him in his current and past roles.”