WASHINGTON (Reuters) - President Barack Obama is preparing to name a new regulator to oversee mortgage financiers Fannie Mae and Freddie Mac, and economist Mark Zandi is at the top of the list of candidates, according to people familiar with the process.
Zandi would consider the post if it was offered to him by Obama, according to one source, who asked for anonymity in order to discuss personnel matters.
Although the White House's decision has not been made final, the vetting process is well underway to find a permanent director for the Federal Housing Finance Agency. The position requires Senate confirmation, and Republicans might try to block an Obama nominee.
Zandi, chief economist of Moody's Analytics, may have better prospects for winning confirmation, analysts said. While a registered Democrat Zandi was an economic adviser to Republican Senator John McCain during his 2008 presidential campaign.
"The administration realizes that Republicans will never confirm a Democrat who has served for two decades on Capitol Hill to run FHFA," said Seiberg.
The next FHFA director would be expected to guide Fannie Mae and Freddie Mac through an overhaul process that would reduce their role in the housing finance system. Both Democrats and Republicans agree that Fannie Mae and Freddie Mac should eventually be wound down, but have failed to agree on what should replace them.....snip~
Seems moderate Republicans might go for this guy. The position of Perm Director.....I don't think we need to have a Perm Head. Especially if they are talking about winding it down. Think the Repubs will block? Thoughts?