Simone Grimes had alleged former FHFA Director Mel Watt made inappropriate advances toward her and she was paid less than the man who had previously held her position.
Former FHFA Director Mel Watt attempted to coerce an agency employee to engage in a romantic relationship with him, according to an inspector general report.
The process to confirm Mark Calabria as FHFA director could be lengthy, forcing the White House to consider how it will proceed with housing finance reform under Joseph Otting as acting head of the agency.
The White House said that Comptroller of the Currency Joseph Otting will serve as acting director of the Federal Housing Finance Agency beginning Jan. 6 after the end of the Director Mel Watt’s term.
The administration’s reported interest in having the White House aide run Fannie Mae and Freddie Mac's regulator signals a focus on constraining the mortgage giants’ role in the housing market.
Under the Federal Housing Finance Agency's plan, small Home Loan banks would face a new housing benchmark and a volume threshold for meeting the goals would be eliminated.
