Dems renew call for new FHFA head

{mosads}Democrats have long been frustrated with DeMarco, who has resisted efforts to extend more assistance to struggling homeowners. As caretaker of the two government-sponsored enterprises (GSEs), DeMarco has maintained that efforts such as principal reduction are not in the best interests of their finances, and that there are more cost-effective ways to provide assistance.

Democrats contend that DeMarco is letting his ideological outlook get in the way of empirical policy.

“Mr. DeMarco has demonstrated that he is not interested in obtaining real-world evidence that might contradict his pre-established views,” they wrote.

The White House was stymied in its original attempt to replace DeMarco back in 2010. Their original nominee, Joseph Smith, was blocked by Republicans who accused him of being an “administration lapdog.” The administration let that nomination expire with the close of the 111th Congress, and did not put forward any other nominee in the 112th.