Senate Confirms Sandra Thompson as FHFA Director
The Senate on Wednesday confirmed Sandra Thompson’s nomination to serve as Director of the Federal Housing Finance Agency.
The vote was 49-46, entirely along party lines.
Bob Broeksmit, CMB, President and CEO of the Mortgage Bankers Association (MBA), issued the following statement:
“MBA applauds the confirmation of Sandra Thompson to continue leading the Federal Housing Finance Agency. Since being appointed Acting Director in June 2021, she has repeatedly demonstrated leadership, expertise and a strong commitment to sound risk management principles while safely expanding access to mortgage credit and creating equitable and sustainable housing solutions for homeowners and renters.
“We look forward to continuing our important work with Director Thompson, FHFA, the GSEs, and other stakeholders to provide affordable housing opportunities for all Americans, while protecting taxpayers and ensuring a robust secondary mortgage market for single-family and multifamily lenders of all sizes and business models.”
Thompson was nominated by the Biden Administration in December. She has served as the agency’s Acting Director since June, when the Biden Administration removed the previous director, Mark Calabria, following a Supreme Court ruling that FHFA’s leadership structure was unconstitutional.
Thompson has more than four decades of government experience in financial regulation, risk management and consumer protection. She has served as Deputy Director of the Agency’s Division of Housing Mission and Goals since 2013. As DHMG Deputy Director, Thompson oversaw FHFA’s housing and regulatory policy, capital policy, financial analysis, fair lending and 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 Corp. for more than 23 years in a variety of leadership positions, most recently as Director of the Division of Risk Management Supervision. During her time at FDIC, Thompson led the Agency’s examination and enforcement program for risk management and consumer protection at the height of the financial crisis. She also led the FDIC’s outreach initiatives in response to a crisis of consumer confidence in the banking system.
Thompson addressed MBA members most recently at the MBA National Secondary and Capital Markets Conference & Expo in New York on May 16. She also spoke at the most recent MBA Annual Convention & Expo in San Diego this past October.