OFHEO was managed by a director, appointed by the president and ratified by the Senate. The final director was James B. Lockhart III, assuming the position during a time of crisis as acting director April 28, 2006, when nominated, confirmed to the post on June 15, and sworn in June 26, 2006.[1] The previous Director was Armando Falcon, Jr, confirmed September 29, 1999,[2][3] and forced to resign February 4, 2003, over the release of critical oversight reports[4] However, the White House withdrew the nomination of his successor, and he served as director beyond the end of his term as provided by law.
office, federal, housing, enterprise, oversight, ofheo, agency, within, department, housing, urban, development, united, states, america, charged, with, ensuring, capital, adequacy, financial, safety, soundness, government, sponsored, enterprises, federal, nat. The Office of Federal Housing Enterprise Oversight OFHEO was an agency within the Department of Housing and Urban Development of the United States of America It was charged with ensuring the capital adequacy and financial safety and soundness of two government sponsored enterprises the Federal National Mortgage Association Fannie Mae and the Federal Home Loan Mortgage Corporation Freddie Mac It was established by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 OFHEO was managed by a director appointed by the president and ratified by the Senate The final director was James B Lockhart III assuming the position during a time of crisis as acting director April 28 2006 when nominated confirmed to the post on June 15 and sworn in June 26 2006 1 The previous Director was Armando Falcon Jr confirmed September 29 1999 2 3 and forced to resign February 4 2003 over the release of critical oversight reports 4 However the White House withdrew the nomination of his successor and he served as director beyond the end of his term as provided by law On July 30 2008 the Housing and Economic Recovery Act of 2008 combined OFHEO and the Federal Housing Finance Board FHFB to form the new Federal Housing Finance Agency FHFA OHFEO director James B Lockhart III oversaw the agency at its conception but departed after less than a year OFHEO also published the house price index See also EditTitle 12 of the Code of Federal Regulations Stephen Douglas JohnsonReferences Edit OFHEO FY 2006 Performance and Accountability Report The Whistleblower They Ignored The Nation April 14 2010 U S SENATE CONFIRMS OFHEO DIRECTOR Testimony of Armando Falcon The Financial Crisis Inquiry Commission April 9 2010External links EditOffice of Federal Housing Enterprise Oversight website Office of Federal Housing Enterprise Oversight in the Federal Register This United States government related article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Office of Federal Housing Enterprise Oversight amp oldid 1127960535, wikipedia, wiki, book, books, library,
