On Wednesday (05/25/22), the U.S. Senate confirmed the appointment of the first Black woman to head the Federal Housing Finance Agency (FHFA).
Sandra L. Thompson had been acting director since June 23, 2021. Since March 2013, Thompson was a deputy director who oversaw the agency’s financial analysis, fair lending and regulatory policy. She had worked for 23 years for the Federal Deposit Insurance Corporation (FDIC). She is a graduate of Howard University in Washington, D.C.
The National Association of Realtors (NAR) was quick to endorse the confirmation.
“NAR applauds the U.S. Senate for confirming Sandra Thompson to lead FHFA,” said Rouda Smith, NAR president. “Her experience will benefit the enterprises, homeowners, homebuyers and the mortgage financing ecosystem as a whole.”
The vote to confirm was 49-46 with five members not voting. It was split on partisan lines with Democrats in support and Republicans for the most part voting no.
U.S. Rep. Maxine Waters, who chairs the House Committee on Financial Services, issued a statement of support for Thompson: “Our nation continues to face a worsening housing crisis that falls disproportionately on communities of color and threatens to lock future generations out of stable, equitable homeownership. Now more than ever, it is imperative that we have an FHFA director who will work to find equitable and innovative solutions to expand access to homeownership and affordable housing for every community and prospective homebuyer.