Today, the top Republican on the House Financial Services Committee, Patrick McHenry (NC-10), and the top Republican on the Subcommittee on Housing, Community Development, and Insurance, French Hill (AR-02), released the following statement on President Joe Biden’s decision to terminate Dr. Mark Calabria as the Director of the Federal Housing Finance Agency (FHFA):
“By firing Director Calabria, President Biden is once again politicizing an independent regulator to appease the radical, far-left. During his time at FHFA, Director Calabria remained a steady hand as conservator of Fannie Mae and Freddie Mac. Mark improved capital levels at the GSEs, which was evident by their performance during the COVID related economic downturn. He also moved quickly at the beginning of the pandemic to ensure homeowners would be able to enter forbearance plans and stay in their homes. His actions have protected homeowners, taxpayers, and the housing market. President Biden’s move to terminate Director Calabria, yet again under pressure from progressive activists, is a sad day for good government.”
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