Mark Calabria Nominated to Head FHFA

President Donald Trump Tuesday announced his intent to nominate Mark Calabria to succeed Mel Watt as head the Federal Housing Finance Agency (FHFA). Watt, who recently faced allegations involving his alleged conduct while at the agency, is set to depart in January.

Calabria currently serves as Chief Economist for Vice President Mike Pence. He has previously served as a senior aide on the Senate Banking Committee where he was one of the lead drafters of the Housing and Economic Recovery Act of 2008, which created the FHFA.

Calabria also served as deputy assistant secretary for regulatory affairs at the U.S. Department of Housing and Urban Development during former President George W. Bush’s administration. He also held positions at Harvard’s Joint Center for Housing Studies, the National Association of Home Builders and the National Association of Realtors.

The nomination requires Senate confirmation. If confirmed, Calabria would serve a five-year term.