Real Estate

Biden to replace leader of Fannie Mae and Freddie Mac after Supreme Court ruling


Director of the Federal Housing Finance Agency Mark Calabria testifies on Capitol Hill during a committee hearing on “Housing Finance Reform: Next Steps” in Washington, DC, September 10, 2019.

Jim Watson | AFP | Getty Images

The Biden administration will replace the leader of a massive U.S. housing finance agency following the Supreme Court’s ruling that its current structure is unconstitutional.

The White House is moving forward to replace Mark Calabria as head of the Federal Housing Finance Agency, which oversees mortgage giants Fannie Mae and Freddie Mac, an administration official told CNBC.

The official said that, in light of the Supreme Court’s decision, President Joe Biden will seek a…


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