DeMarco Stepping Down From Deputy Director Role At FHFA

Posted by Patrick Barnard on March 25, 2014 No Comments
Categories : Residential Mortgage

Edward J. DeMarco, former interim director at the Federal Housing Finance Agency (FHFA), is reportedly stepping down from his current role as deputy director.

DeMarco, who led the FHFA during the wake of the 2008 credit crisis, will leave the agency at the end of April, Bloomberg News reports.

In January, Melvin L. Watt became the new director of the agency, which oversees government-sponsored enterprises Fannie Mae and Freddie Mac. DeMarco was named deputy director and worked to assist Watt – President Obama's appointee to the post – in transitioning into his new role.

‘With the transition now well along, I believe the time has come for me to seek other opportunities,’ DeMarco wrote in his resignation letter, as per the report.

DeMarco, however, didn't say what those ‘new opportunities’ will be.

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