Biden Appoints Sandra Thompson As Acting Director Of The FHFA – NMP Skip to main content

Biden Appoints Sandra Thompson As Acting Director Of The FHFA

Katie Jensen
Jun 24, 2021

The White House appointed Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA), effective immediately. Her statement reveals that a permanent director will be confirmed in December.

The White House appointed Sandra L. Thompson as acting director of the Federal Housing Finance Agency (FHFA), effective immediately. Her statement reveals that a permanent director will be confirmed in December. 

President Biden’s decision to replace Mark Calabria came hours after the Supreme Court overturned a provision that prohibited the president from firing the FHFA director at will. 

Thompson stated, “I am honored that President Biden has designated me to be Acting Director of the Federal Housing Finance Agency until a permanent Director is confirmed. I look forward to serving in this role at this crucial time. As a longtime regulator, I am committed to making sure our nation’s housing finance systems and our regulated entities operate in a safe and sound manner. We can accomplish this, and at the same time have a laser focus on mission and community investment. There is a widespread lack of affordable housing and access to credit, especially in communities of color. It is FHFA’s duty through our regulated entities to ensure that all Americans have equal access to safe, decent, and affordable housing.” 

Since 2013, Thompson served as deputy director of the Division of Housing Mission and Goals (DHMG). As deputy director, Thompson oversaw the FHFA’s housing and regulatory policy, capital policy, financial analysis, and fair lending, including all mission activities for Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.

Prior to joining FHFA, Thompson worked at the Federal Deposit Insurance Corporation (FDIC) for more than 23 years in a variety of leadership positions. Her most recent position was director of the Division of Risk Management Supervision. While working for the FDIC, Thompson led the agency’s examination and enforcement program for risk management and consumer protection at the height of the 2008 housing crisis. She also led the FDIC’s outreach initiatives at a time when there was little consumer confidence in the banking system. Her experiences range from supervision to consumer protections, outreach, and risk management. 

The FHFA is responsible for oversight of the $7.2 trillion mortgage finance market. The institution was created by the Housing and Economic Recovery Act (HERA) of 2008 to oversee Fannie Mae, Freddie Mac, and the Federal Loan Bank System. 

To read Sandra L. Thompson’s entire statement, visit the FHFA website

Update (06/24): Mortgage Bankers Association president and CEO, Bob Broeksmit, stated, "MBA congratulates Sandra Thompson on her appointment as the Acting Director of the Federal Housing Finance Agency. Her experience, expertise, and deep knowledge of housing finance will serve her well in this role. We fully agree with the Acting Director's stated goals of operating the regulated entities in a safe and sound manner while supporting their missions to increase the availability of affordable housing and extend access to credit."  Read the full statement at mba.org.

Published
Jun 24, 2021
MISMO Seeks Public Comment On 3 eMortgage Resources

Updates proposed to MISMO Business Glossary, eMortgage Glossary, and eModification Reference Flyer.

Regulation and Compliance
Aug 05, 2022
As Expected, The Fed Raises Rate By Another 0.75%

Experts say housing industry will shrug off the latest increase.

Regulation and Compliance
Jul 27, 2022
AmTrust Ends 'No-Poach' Agreement, Pays $1.25M Fine In Deal With N.Y. AG

Company also agrees to cooperate with ongoing investigations of the title insurance industry.

Regulation and Compliance
Jul 25, 2022
NAR Chief Economist: Nationwide Home Price Decline Won't Happen Soon

Lack of inventory continues to support growth in prices, which have increased year over year for 124 straight months.

Regulation and Compliance
Jul 22, 2022
FHFA Director: Fannie, Freddie Need $300B Combined In Capital

So far, the enterprises combined have built $83.5 billion in reserves, or about 27% of the target.

Regulation and Compliance
Jul 21, 2022
Expansion Of Community Reinvestment Act A Poor Fit For A Non-Problem

Equating non-bank mortgage companies to banks is misguided for several reasons.

Analysis and Data
Jul 20, 2022