Edward DeMarco, who served as acting director of the Federal Housing Finance Agency (FHFA) from 2009 until January 2014, is leaving the agency. He sent a letter to FHFA Director Melvin Watt, confirming his departure.
DeMarco did not indicate his futures plans but said April 30 will be his last day at the agency.
“Ed has been an invaluable asset to FHFA and I appreciate his assistance to me during this transitional period,” Watt said. “Throughout his 28 year career as a public servant he has made many important public policy contributions grounded in his strong background in housing finance. I wish him the very best in his future endeavors.”
DeMarco joined the Office of Federal Housing Enterprise Oversight (OFHEO), a predecessor agency to FHFA, in October 2006 as its chief operating officer and deputy director. He was appointed acting director of FHFA on Aug. 25, 2009 by President Obama and served in that role until Watt was sworn in on Jan. 6, 2014.
Previously, DeMarco served in various capacities at the Social Security Administration, U.S. Department of the Treasury and U.S. General Accounting Office.
In his letter, DeMarco said he was thankful to help with Watt’s transition into leadership but feels it is time for him to seek other opportunities.
“I have publicly stated numerous times that the conservatorships of Fannie Mae and Freddie Mac were never intended to be a long-term solution,” DeMarco also said in his letter. “Congress must act to bring the conservatorships to an end and chart the course for a new structure for housing finance. My earnest hope is that recent legislative initiatives in the House and the Senate lead to the consensus needed to bring such legislation to enactment.”
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