Commercial Real Estate Finance Council Congratulates Sandra Thompson on Confirmation as FHFA Director

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May 27, 2022, 09:00 ET

NEW YORK, May 27, 2022 /PRNewswire/ -- The Commercial Real Estate Finance Council (CREFC) congratulates Sandra Thompson on her confirmation on May 25, 2022, as Director of the Federal Housing Finance Agency (FHFA). The U.S. Senate confirmed Thompson for a five-year term in a bipartisan vote of 49-46. Thompson had been serving as Acting Director since June 2021, and President Biden nominated her in December 2021 to permanently head the agency, which was created in 2008 to oversee Fannie Mae, Freddie Mac and the Federal Home Loan Bank System.

Director Thompson has over four decades of government experience in Federal financial institution regulation, risk management, and consumer protection, with a keen focus on both the primary and secondary mortgage markets. Thompson's confirmation comes at important crossroads in the nation's housing market as the country emerges from the pandemic and issues of housing availability and affordability come to the forefront.

CREFC and its members are focused on promoting liquidity, transparency, and efficiency in the commercial and multifamily real estate finance markets. As such, we look forward to continue working with Director Thompson and her staff to ensure the continued flow of capital and liquidity to the multifamily segment of the housing market and respond to President Biden's recently announced plan aimed at reducing the costs of housing.

About CREFC

The CRE Finance Council (CREFC) is the trade association for the commercial real estate finance industry with member firms including balance sheet and securitized lenders, loan and bond investors, private equity firms, servicers and rating agencies, among others. CREFC promotes liquidity, transparency, and efficiency in the commercial real estate finance markets, and acts as a legislative and regulatory advocate for the industry, playing a vital role in setting market standards and best practices, and providing education for market participants.

SOURCE CRE Finance Council