Housing regulator shoring up finance staff

A federal housing regulator is shoring up its staff tasked with developing and directing policy for finance and financial markets amid little congressional action on the mortgage market's future. 

Federal Housing Finance Agency Acting Director Edward DeMarco, whose agency oversees mortgage giants Fannie Mae and Freddie Mac, announced on Tuesday the appointment of Sandra Thompson to take over as deputy director of the Division of Housing Mission and Goals. 

Thompson, who spent 23 years at the Federal Deposit Insurance Corporation (FDIC), will oversee the agency's housing and regulatory policy, financial analysis along with policy research and analysis of housing finance and financial markets.

"Sandra’s breadth of experience at the FDIC, including supervision, consumer protection, risk management, and consumer outreach activities will be an asset to FHFA as we contribute to building a new infrastructure for the country’s housing finance market," DeMarco said.

Thompson’s final day at the FDIC is Feb. 1 and she will join FHFA in March.

The White House and Congress have been unable to move forward on a plan to reduce the amount of government involvement in the mortgage market. 

Thompson most recently served as director of the division of Risk Management Supervision (RMS), where she led the agency’s examination and enforcement program for risk management and consumer protection relating to approximately 4,500 FDIC-supervised institutions during the height of the financial crisis.

“I would like to thank Sandra for her 23 years of dedicated service to the FDIC," said FDIC Chairman Martin Gruenberg in a statement. "She is an exemplary public servant who has demonstrated leadership, vision and a commitment to the FDIC’s mission throughout her long career. She will be deeply missed at the FDIC."

Doreen Eberley, who joined the FDIC in 1987, will take over for Thompson. 

Most recently, Eberley completed a year-long assignment in August 2011 as acting deputy to former Chairman Sheila Bair. In June 2012, she was appointed as senior deputy director of RMS.

Also, DeMarco named Nina Nichols moves up to the position of deputy director of the Division of Supervision Policy and Support. Prior to joining FHFA she served as senior vice president for JP Morgan Chase and held a variety of positions at the Federal Reserve System.