President Biden is reportedly close to formalizing his choice of Mike Calhoun to run the Federal Housing Finance Agency.
As reported by Inside Mortgage Finance, Calhoun currently serves as president of the Center for Responsible Lending. Should he step into the role at FHFA, he will replace Acting Director Sandra Thompson, who took over leadership of the agency in June after Biden fired President Trump-appointee Mark Calabria.
That decision came following the Supreme Court’s ruling that the director works at the will of the president.
Multiple outlets note that as a longtime affordable housing advocate, Calhoun is very much in sync with the Biden administration’s housing priorities. Calhoun is a noted strong supporter of Fannie Mae and Freddie Mac, especially their roles in supporting affordable housing.