President Biden nominates FHFA director

Read more: US Supreme Court makes FHFA decision

In September, rumors surfaced that Biden was considering Thompson with Mike Calhoun, president of the Center for Responsible Lending, to replace Thompson. However, Thompson’s allies, including House Financial Services chair Maxine Waters intervened and pressed the president to keep Thompson at the helm.

In a statement, Waters said: “Ms. Thompson has needed little time to show this nation how uniquely qualified she is to serve at the helm of FHFA. Her understanding of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks as government-sponsored enterprises (GSE) is undeniable.

“Her commitment to ensuring that the GSEs are both well capitalized and using their status to expand low-cost mortgage credit to all communities is illustrated in her actions,” she continued. “More importantly, her commitment to accountability and transparency will be invaluable to ensuring the GSEs are operating in the best interest of taxpayers.”

Waters also highlighted Thompson’s actions to make housing more affordable and close the racial homeownership gap.