The FHFA Director oversees key aspects of the housing finance system, including the regulation of Fannie Mae and Freddie Mac and the Federal Home Loan Banks. As of December 2024, Sandra L. Thompson, a Biden appointee, was in the top spot. However, a new leader and fresh direction were widely anticipated with the transition of power. One expectation is that during his second term, President-elect Donald Trump will work to achieve his first-term goal of privatizing Fannie Mae and Freddie Mac.