Fannie Mae-No Politics (FNMA)

[JOoa0ky]

Did you miss the whole discussion about how Calhoun was the front runner but then got overturned behind the scenes? It was right before Sandra's nomination.

https://howardonmortgagefinance.com/2021/10/19/comment-on-ercf-rule-amendments/
"As I’ve said before, I wish I knew what happened for the Biden administration to have gone from telling Mike Calhoun on a Friday that he would be nominated to be the next FHFA director the following Monday, only to have that put on hold over the weekend, then to have Sandra Thompson nominated for the position, and today to hear all members of the Senate Banking Committee, including Democrats, sing her praises. But the banks clearly have won. It now seems highly unlikely that there will be any administrative release of Fannie and Freddie from conservatorship for as long as Sandra Thompson is the director of FHFA. And it will take a highly visible “wake up call” or crisis—stemming from the consequences of allowing the banking industry to effectively set the pricing for the $6.8 trillion Fannie and Freddie MBS market in a way that advantages themselves and disadvantages low- and moderate-income homebuyers—for a new FHFA director to be named. What a missed opportunity."

So why didn't Biden nominate Calhoun (the author of the affordable housing plan) instead of Thompson who has considerable and deep banking regulator credentials?