Federal Housing Finance Agency acting Director Ed DeMarco announced his official departure day will be at the end of April, leaving the permanent helm to Mel Watt after a period of transition.
The FHFA has existed for less than six years, and while DeMarco is stepping away from his desk, he still ends on one final push for Fannie Mae and Freddie Mac reform.
“My earnest hope is that recent legislative initiatives in the House and the Senate lead to the consensus needed to bring such legislation to enactment,” DeMarco said in his parting letter to Watt.
“I have publicly stated numerous times that the conservatorships of Fannie Mae and Freddie Mac were never intended to be a long-term solution. Congress must act to bring the conservatorships to an end and chart the course for a new structure for housing finance,” DeMarco said.
DeMarco took charge of the FHFA in August 2009 and since taking on the position, helped build and shape the FHFA.