Lockhart To Step Down As FHFA Head

B. Lockhart III is planning to step down as the director of the Federal Housing Finance Agency. [link=http://www.nytimes.com/aponline/2009/08/05/us/politics/AP-US-Housing-Agency-Chief-Resignation.html][u]The Associated Press[/u][/link] quoted an unnamed official in the Obama administration who stated that the official timing of the Lockhart resignation has not been determined, nor has a successor been named. No reason was given regarding why Lockhart sought to leave at this time. Lockhart was originally appointed by President George W. Bush to become director of the Office of Federal Housing Enterprise Oversight (OFHEO) in 2006. FHFA replaced OFHEO as the regulatory agency for Fannie Mae and Freddie Mac in July 2008. SOURCE: Associated Pres

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