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The Week Ahead: Getting to Know FHFA Nom Mark Calabria

The Senate Banking Committee will hold a hearing on the nomination of Mark Calabria as Director of the Federal Housing Finance Agency (FHFA) on Thursday, February 14 at 10 a.m. EST. Along with Calabria, the Committee will also conduct hearings for Bimal Patel, of Georgia, to be an Assistant Secretary of the Treasury; Todd M. Harper, of Virginia, to be a Member of the National Credit Union Administration Board; and Rodney Hood, of North Carolina, to be a Member of the National Credit Union Administration Board.

The Trump administration announced Calabria's nomination to head the FHFA in December. He is currently the Chief Economist to Vice President Mike Pence. If confirmed, Calabria would have significant influence over the housing finance market at the FHFA. According to Bloomberg, Calabria had previously pushed for putting Fannie and Freddie into receivership. “Calabria, a former scholar at the libertarian Cato Institute, has also called for abolishing the mortgage-interest deduction, something millions of homeowners benefit from. In addition, he has supported getting rid of government subsidies for the 30-year fixed rate mortgage,” Bloomberg said.

Read about what the industry and regulators had to say about the nomination here.

Here's what else is happening in the week ahead:

  • CoreLogic Loan Performance Insights Report, Tuesday, 10 a.m. EST
  • MBA Mortgage Apps, Wednesday, 7 a.m. EST
  • House Committee Hearing: “Homeless in America: Examining the Crisis and Solutions to End Homelessness, Wednesday, 10 a.m. EST
  • Freddie Mac Q4 and Full Year Results, Thursday, 8 a.m. EST
  • Freddie Mac Primary Mortgage Market Survey, Thursday, 10 a.m. EST

About Author: Radhika Ojha

Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas.
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