President Biden Indicates Nomination of FHFA Acting Director Thompson

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President Joe Biden has said he will nominate Sandra L. Thompson to serve as the Director of the Federal Housing Finance Agency.

Thompson has more than four decades of government experience in financial regulation, risk management, and consumer protection. She has served as the Deputy Director of the Agency’s Division of Housing Mission and Goals since 2013. She also has served as acting director following the exit of Mark Calabria.

FHFA was created by the Housing and Economic Recovery Act of 2008 to oversee Fannie Mae, Freddie Mac and the Federal Home Loan Bank System and is responsible for oversight of the $7.2 trillion mortgage finance market. It also is responsible for the oversight of new programs to support financing for manufactured homes and manufactured home communities.

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 Corporation (FDIC), 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 is a native of Chicago, a graduate of Howard University, and has two adult sons.

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