The FHFA Hires Key Execs, Updates Website

The Federal Housing Finance Agency has made several key appointments in its effort to oversee Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. James Lockhart, director of the FHFA, said the new agency, which combines resources from the former Office of Federal Housing Enterprise Oversight, the Federal Housing Finance Board, and the Department of Housing and Urban Development's government-sponsored enterprise mission team, has great challenges amid the turmoil in the nation's housing markets. "As a new regulatory body, we will be working together to create a new and stronger regulator that will enhance market confidence in the 14 GSEs by ensuring that their oversight is both robust and authoritative," he said. OFHEO veterans Edward DeMarco has been named chief operating officer and deputy director for housing mission and goals; Stephen Cross has been named deputy director of the division of Federal Home Loan Bank regulation; Chris Dickerson has been named deputy director for the division of enterprise regulation, and David Lee has been named the FHFA's chief administrative officer.