Washington, DC – February 1, 2011 – (RealEstateRama) — FHFA Acting Director Edward J. DeMarco today announced the agency will consolidate its three office locations into one, moving from Northwest, Washington, D.C. to Constitution Center at 400 Seventh St., Southwest. FHFA anticipates the move beginning in November 2011.
“This move will improve efficiency and will allow for expansion in, and greater integration of, our examination and supervisory personnel and programs,” said DeMarco.
The agency’s procurement process has been ongoing for the past nine months. Constitution Center was selected after an extensive search and competitive bid process because it represents the best value to the government while providing the agency with sufficient space to consolidate operations from three locations into one.
FHFA, created by the Housing and Economic Recovery Act of 2008, merged the Office of Federal Housing Enterprise Oversight (OFHEO), the Federal Housing Finance Board (FHFB), and staff from the Department of Housing and Urban Development (HUD). FHFA currently has employees in offices on G Street, Pennsylvania Ave. and Eye St., NW.
The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks. These government-sponsored enterprises provide more than $5.9 trillion in funding for the U.S. mortgage markets and financial institutions.