The Federal Housing Finance Agency [1] (FHFA) has appointed [2] John Roscoe, a special assistant to President Donald Trump and former Trump campaign official, as its new Chief of Staff. Roscoe will take on the new role on February 4 and report directly to Acting Director Joseph Otting.
Roscoe currently serves as Special Assistant to the President in the White House Office of Presidential Personnel. The FHFA statement noted that his work has helped shape the economic, trade, and regulatory arm of the Trump Administration. Prior to joining the White House, Roscoe served in senior roles in the private sector and state government, including at the Ohio Treasurer’s office.
“I am honored by this appointment and look forward to working with Acting Director Otting and the highly respected FHFA team,” Roscoe said.
Commenting on the appointment, Otting said that Roscoe brings to the position “solid judgment that comes from working at a very high level across all branches of government.”
“John is a dynamic and collaborative leader with a track record of success. I look forward to working with John to carry out the mission of the FHFA,” Otting said.
The latest appointment comes at a time when the FHFA has been in the news because of Otting’s remarks on ending the conservatorships of Fannie Mae and Freddie Mac. As reported in DS News [3] earlier, according to a recording of his remarks obtained by Politico [4], Otting told FHFA employees that they would be seeing communication from the White House and the Treasury over the next two to four weeks that "really sets a direction for what the future of housing will be in the U.S. and what the FHFA's part will be."
The remarks set the share prices [5] of both the government-sponsored enterprises (GSEs) soaring as investors became more hopeful that Fannie and Freddie could soon be out of government conservatorship.
Housing Finance Reforms are also on top of the Senate Banking Committee’s agenda. The Committee will assess these and other proposals to determine how we can fix the flawed system, establish appropriate levels of taxpayer protection, preserve the 30-year fixed-rate mortgage, increase competition among mortgage guarantors and promote access to affordable housing," said Sen. Mike Crapo, Chairman of the Senate Banking Committee.