Director Calabria Gets His Team Assembled

From public announcements to rumored moves, it looks like Mark Calabria is running the table on assembling a great team from around Washington. Here are names we are seeing announced or in discussion as of this publication:

Adolfo Marzol: We are glad to see this move. Adolfo comes with deep experience in capital markets, risk management, and operations having served in key executive positions at Fannie Mae and Essent MI. With Adolfo’s tenure at HUD he also has his sea legs and understands how the administration functions. He will play a key role as Deputy Director.

Sheila Greenwood: Sheila was considered as a critical player at HUD in the early days of Secretary Carson’s tenure. She was not only accessible and responsive, but kept the trains moving. Assuming she is permanent, she will be a great access point and resource to stakeholders.

Clinton Jones: Clinton has served as Senior Legal Counsel on the House Financial Services Committee when the republicans were in the majority. Now in the minority, this is great timing to move where he can be even more influential. The Mortgage Bankers Association (MBA) recently recruited Tallman Johnson, a long-time peer of Clintons on the committee and speculation of where Clinton might go next has been in discussion for some time. For Calabria, Clinton brings extensive policy and legislative skills which would help Mark immensely as he considers the options for moving GSE reform forward. Clinton is also a walking encyclopedia of housing policy issues and can be of great service to FHFA.

John Roscoe: John joined FHFA from White House Personnel. He brings an insiders’ knowledge of the White House and can certainly be a key player in helping Mark build out his team.

Megan Patenaude: Megan, the daughter of the former HUD Deputy Secretary Pam Patenaude, is extremely skilled and comes with her experience having worked for Vice President Pence initially as his scheduler.

Questions remain as to what Bob Ryan, Robert Fishman, and Sandra Thompson will do and whether they will stay on in key roles. Ryan and Fishman both come with extensive GSE experience having both worked in key roles at Freddie Mac. There are other key recruits, for example, we hear of an individual coming from the Inspector General’s office at Treasury. This would be an important skillset as the IG will be scrutinizing any move that might change the nature of the PSPA’s or the sweep. The IG of Treasury will be an important player here as will Alfred Pollard, the General Counsel at FHFA.

Whether all of these individuals will join as long-term staff, we view these moves the Director is making as showing thoughtful balance and the augmenting of his skills with the right talent needed to not only plan policy moves, but execute against them.