Sandra L. Thompson has been officially confirmed by the U.S. Senate as the next director of the Federal Housing Finance Agency (FHFA). Since June 23, 2021, she has been serving as acting director following an appointment by the White House.
“I congratulate Director Sandra L. Thompson, who will be the first Black woman to serve as FHFA Director,” states Congresswoman Maxine Waters (D-CA), chairwoman of the House Committee on Financial Services. “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.”
Before being named as FHFA’s acting director, Thompson served as deputy director of the Division of Housing Mission and Goals (DHMG). Since March 2013, as DHMG’s deputy director, Thompson oversaw FHFA’s housing and regulatory policy, capital policy, financial analysis, fair lending and all mission activities for Fannie Mae, Freddie Mac and the Federal Home Loan Banks.
“NAR applauds the U.S. Senate for confirming Sandra Thompson to lead FHFA,” comments Leslie Rouda Smith, National Association of Realtors’ president. “Her experience will benefit the enterprises, homeowners, homebuyers and the mortgage financing ecosystem as a whole. Director Thompson’s confirmation comes at a time when the housing market and mortgage finance system face historic challenges, including critical questions related to housing affordability, accessibility, and inventory. We look forward to working with her and the entire FHFA to identify solutions that will secure the future of housing finance in America.”
Prior to joining FHFA, Thompson worked at the Federal Deposit Insurance Corporation (FDIC) for more than 23 years in a variety of leadership positions, including as the Division of Risk Management Supervision’s director. During her time at FDIC, Thompson led the agency’s examination and enforcement program for risk management and consumer protection at the height of the financial crisis. She also led the FDIC’s outreach initiatives in response to a crisis of consumer confidence in the banking system. Her experiences range from supervision to consumer protection, risk management and consumer outreach activities.
“Ms. Thompson’s years’ worth of experience in promoting access to mortgage credit nationwide and protecting the safety and soundness of the housing finance system demonstrates her unwavering commitment to ensuring that the government-sponsored enterprises are well capitalized and operate to expand low-cost mortgage credit to all communities,” adds Congresswoman Waters. “What’s more, Ms. Thompson’s experience working through several crises, including during the current pandemic, makes her well-positioned to continue tackling our nation’s housing crisis head on.
“MBA applauds the confirmation of Sandra Thompson to continue leading the Federal Housing Finance Agency,” says Bob Broeksmit, CMB, president and CEO of the Mortgage Bankers Association (MBA). “Since being appointed acting director in June 2021, she has repeatedly demonstrated leadership, expertise, and a strong commitment to sound risk management principles while safely expanding access to mortgage credit and creating equitable and sustainable housing solutions for homeowners and renters.”
“We look forward to continuing our important work with Director Thompson, FHFA, the GSEs and other stakeholders to provide affordable housing opportunities for all Americans, while protecting taxpayers and ensuring a robust secondary mortgage market for single-family and multifamily lenders of all sizes and business models,” Broeksmit concludes.