Industry News

Search for OFHEO head continues

Lead position for Fannie, Freddie regulator open

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The Bush administration is considering at least four candidates to head the regulator of Fannie Mae and Freddie Mac, people familiar with the search have told Bloomberg.   Jonathan Fiechter, a deputy director at the International Monetary Fund; Edward DeMarco, assistant deputy commissioner at the Social Security Administration; Mark Sullivan, the U.S. representative to the European Bank for Reconstruction and Development; and Steve McMillan, an adviser to White House Chief of Staff Andrew Card; are among the candidates reported by Bloomberg today.   The Bush administration in May began seeking a new director of the Office of Federal Housing Enterprise Oversight while Stephen Blumenthal serves as acting director. Congress is currently debating legislation that would create a tougher regulator for mortgage giants Fannie Mae and Freddie Mac.   In 2003, the Office of Federal Housing Enterprise Oversight discovered accounting irregularities by Freddie Mac, leading to a massiv...