WASHINGTON – The Milken Institute today announced that Edward DeMarco has joined its Washington-based Center for Financial Markets (CFM) as a Senior Fellow-in-Residence to drive the Center’s work on housing finance reform and housing policy issues.
DeMarco will bring 28 years of public service experience in a number of financial markets areas, most notably as Acting Director of the Federal Housing Finance Agency (FHFA) from September 2009 until January 2014. At FHFA, DeMarco oversaw the operations of Fannie Mae and Freddie Mac as conservator, directing the two firms to put in place policies to stabilize their financial condition and support the U.S. housing market. Prior to this role, DeMarco was the COO and Senior Deputy Director at FHFA and its predecessor, the Office of Federal Housing Enterprise Oversight (OFHEO), a role he filled from 2006 to 2009. See his bio: http://www.milkeninstitute.org/about/our-team/view/183.
“Housing policy is one of the most crucial financial issues facing the nation,” said Staci Warden, executive director of the Milken Institute Center for Financial Markets, “and with Ed’s leadership, we look forward to driving an increasingly solutions-oriented policy discussion in the coming year.”
Milken Institute CEO Mike Klowden said, “As a Senior Fellow-in-Residence, DeMarco will add significantly to CFM’s housing program, complementing the influential policy voice of CFM Senior Fellow and University of Maryland Professor Phillip Swagel, former U.S. Treasury Assistant Secretary for Economic Policy.”
The goals of the Center’s work in housing are to inform the policy debate around key issues, to educate policy makers and other influential voices about the economic implications of housing-related policy decisions, to elucidate the technical aspects of housing finance, and to develop practical, non-partisan solutions for increasing the amount of private-sector capital in the U.S. housing market.
“Working with other Milken Institute scholars, Ed DeMarco will strengthen the Institute’s focus on the appropriate role of government in the economy,” said Institute Chairman Michael Milken. “We are delighted to have the benefit of his experience and expertise.”
“I am excited to be joining the Milken Institute,” said DeMarco. “I look forward to speaking and writing on housing finance and housing policy issues from an influential platform. The Institute is known for its non-partisanship and extraordinary ability to convene public, private, and academic voices to develop creative, responsible policies for financial markets.”
See DeMarco’s new paper, “Twelve Things You Need to Know About the Housing Market,” here: http://www.milkeninstitute.org/publications/view/657