Senate committee advances FHFA nominee

The Senate Banking Committee has voted to advance the nomination of Sandra Thompson as head of the Federal Housing Finance Agency.

In an executive session, the panel approved the nomination of Thompson to lead the housing regulator for a full, five-year term. Fed chair Jerome Powell was also cleared for a new term. Fed Governor Lael Brainard will serve as vice-chair, and Philip Jefferson and Lisa Cook will become members of the bank’s board of governors.

“MBA applauds the Senate Banking Committee for advancing the nomination of Sandra Thompson to be director of the Federal Housing Finance Agency,” Bob Broeksmit, president and CEO of the Mortgage Bankers Association, said in a statement. “Thompson’s experience, including as the acting director, and knowledge of real estate finance will serve her well as she continues to lead FHFA. We now call on the full Senate to confirm her nomination quickly.”