Biden replaces FHFA director after Supreme Court ruling

• Calabria had "sought to reduce the government's role in the housing market since he took office in 2019," Politico notes.
• Investors hoped Fannie and Freddie would return to "private hands after more than 12 years of government control" following the global financial crisis, the Wall Street Journal reports.

What's happening: The FHFA said in a statement Wednesday night that Sandra Thompson, who previously served as the Division of Housing Mission and Goals' deputy director, had been appointed acting director of the agency.

• She previously worked at the Federal Deposit Insurance before joining the FHFA, overseeing its enforcement program for risk management and consumer protection during the financial crisis.

What she's saying: Thompson pledged in the statement to address areas of housing more in line with the Biden administration's goals.

• "There is a widespread lack of affordable housing and access to credit, especially in communities of color," she said.
• "It is FHFA's duty through our regulated entities to ensure that all Americans have equal access to safe, decent, and affordable housing."