Fannie Mae (FNMA)

[obiterdictum]

That is correct. Within the larger bill content, legislators can write in the legislation that the person appointed to position of Director of the new agency must have certain qualifications, cannot have served previously as FHFA Director or the position of FHFA Director is eliminated so there is cannot be succession to positions.

Corker-Warner restricted the position by qualifications and previous service as FHFA Director so that the current FHFA Director cannot serve as head of the newly created entity. See Sec. 102(b)(1)(b) and 102(b)(6)

Johnson-Crapo's FMIC absorbs the FHFA agency and eliminates the FHFA Director's position after a transition period and establishes a FMIC that is managed by a five person board one of which is a Chairperson. All five are appointed by the President and confirmed by the Senate. However, there is no provision besides timing of the transition that I could find in the convoluted text of the draft that prevents the FHFA Director from being appointed by the President to the managing FMIC board or chairperson or vice-chairperson of the FMIC board. Timing seems to indicate that the FMIC chairperson is appointed before the FHFA Director and the FHFA agency office within FMIC is dissolved. So can the FMIC chairperson be simultaneously the FHFA Director during the transition and absorption of the FHFA agency? Take a look and tell what you make of it. Sec. 401 to 408 and especially Sec 404.

Corker-Warner
https://www.govtrack.us/congress/bills/113/s1217/text

Johnson-Crapo
http://www.banking.senate.gov/public/index.cfm?FuseAction=Files.View&FileStore_id=512757b1-e595-4b85-8321-30d91e368849