The CUPP | Episode 14: How Did We Avoid a COVID Mortgage Meltdown?

Released March 29, 2023 | Join Dr. Mark Calabria as he discusses his new book, “Shelter from the Storm: How A COVID Mortgage Meltdown Was Averted.” Dr. Calabria explains the challenges that faced the mortgage markets at the beginning of the pandemic and the careful steps and difficult decisions he had to make while leading the agency. His leadership helped to ensure the safety and soundness of the government-sponsored enterprises (GSEs) and maintain well-functioning markets for mortgage bankers and investors.    

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Key Takeaways

  • Get a peek inside Calabria’s new book, “Shelter from the Storm”.  
  • Learn the details of what happened to mortgage markets in early 2020 and how the FHFA, at the direction of Dr. Calabria, stepped in.  
  • Hear perspectives on the current housing market and what the future may look like for the GSEs. 

Presented By

Ann Petros, Vice President of Regulatory Affairs, NAFCU
Ann Petros, Vice President of Regulatory Affairs, NAFCU

Ann Petros was named Vice President of Regulatory Affairs in October 2021. In her role, Petros oversees NAFCU’s advocacy on various regulatory developments from federal agencies, including the National Credit Union Administration, the Consumer Financial Protection Bureau, and the Federal Housing Finance Agency. Petros joined NAFCU in June 2016 as a regulatory affairs counsel and was promoted to senior regulatory affairs counsel in June 2018. Since starting at NAFCU, Petros has led the association’s advocacy on housing finance issues as well as Federal Communications Commission regulations implementing the Telephone Consumer Protection Act.

Dr. Mark A. Calabria
Dr. Mark A. Calabria

Dr. Mark A. Calabria is a Senior Advisor to the Cato Institute and author of Shelter from the Storm: How A COVID Mortgage Meltdown Was Averted. He previously served as the Director of the Federal Housing Finance Agency (FHFA), which regulates and supervises Fannie Mae, Freddie Mac, and the Federal Home Loan Banks. Before that, Calabria served as Chief Economist to Vice President Mike Pence. He was a senior aide to the United States Senate Committee on Banking, Housing and Urban Affairs and the Deputy Assistant Secretary for Regulatory Affairs in the Office of Housing at the U.S. Department of Housing and Urban Development.