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Senate Confirms New FHFA Director

The U.S. Senate, by a 52-44 party-line vote, confirmed Mark Calabria as Director of the Federal Housing Finance Agency ("FHFA"). Mr. Calabria will succeed FHFA Acting Director Joseph Otting.

As previously covered, Mr. Calabria recently served as the Chief Economist to Vice President Michael Pence. Before that, he served as a senior aide on the U.S. Senate Banking Committee where he helped draft the Housing and Economic Recovery Act of 2008. Mr. Calabria also served as Deputy Assistant Secretary for Regulatory Affairs at the U.S. Department of Housing and Urban Development under former President George W. Bush.

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