DeMarco Takes New Job As Senior Fellow At The Milken Institute

Posted by Patrick Barnard on September 04, 2014 No Comments
Categories : Residential Mortgage

Edward J. DeMarco, who stepped down from his post as deputy director of the Federal Housing Finance Agency (FHFA) in April, has reportedly started a new position as a senior fellow at the Milken Institute's Center for Financial Markets.

DeMarco, who served as interim director of the FHFA during the wake of the 2008 credit crisis, was replaced in January by Melvin L. Watt, President Obama's appointee to the post.

DeMarco, however, stayed on with the agency and assisted Watt during his transition.

DeMarco, who worked to shrink the role of government-sponsored enterprises Fannie Mae and Freddie Mac, said in March that ‘the time has come for me to seek other opportunities;’ however, he didn't say what those opportunities might be.

In his new position at the Milken Institute – a nonpartisan organization founded by financier Michael Milken – DeMarco will continue to push for an overhaul of the nation's housing finance system, according to a Bloomberg News report.

‘While my time in government is over, my interest and passion for housing finance reform being enacted remains strong, and I'd like to contribute to that getting done,’ DeMarco, 54, told Bloomberg.

‘That last chapter of conservatorship has got to be written by the Congress of the United States,’ he said. ‘I know it's hard, but it's got to be done.’

For more, check out the Bloomberg News report.

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