FHFA's Cross Announces Retirement

Stephen Cross, Deputy Director of the Division of FederalrnHome Loan Bank (FHLBank) Regulation of the Federal Housing Finance Agencyrn(FHFA) will retire from his post In March. rn. Cross has served in that position since the agency was created inrnOctober 2008 and simultaneously served as FHFA’s Chief Operating Officer fromrnSeptember 2009 to December 2011.  He wasrnpreviously Director of the Office of Supervision of the Federal HousingrnFinance Board, one ofrnthernpredecessor agencies to FHFA. </p

In announcing the departure of Cross FHFA Acting DirectorrnEdward J. DeMarco said, “Steve Cross has served a vital role at FHFArnduringrna period of upheaval in the housing andrnfinancial markets andrnsignificant development andrnchange at FHFA,” said DeMarco. rn”We are grateful forrnhis oversight of many importantrnand positive developments at the FHLBanksrnas they continue to strengthen their condition in the wake of the financial crisis, asrnwell asrnmany other contributionsrnto this agency.”</p

“It hasrnbeenrna privilege tornwork with a dedicated group ofrnprofessionalsrnatrnthe FHFA,” said Cross. “I amrnhumbled by the opportunities Irnwas provided, and I amrnproud of the quality of ourrnsupervision of the FHLBanksrnduring a period of challenge and change forrnthernFHLBanks and thernhousing financernsystem as a whole.”</p

Cross willrnto oversee the completionrnof the 2012 Bank examinations and assist in the search for hisrnsuccessor.

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