January 6, 2009 / 9:08 PM / 10 years ago

U.S. Home Loan Bank chief regulator steps down

WASHINGTON, Jan 6 (Reuters) - The chief regulator for the Federal Home Loan Bank system has resigned his post as overseer of the 12 regional mortgage lenders.

Ronald Rosenfeld, chairman of the Federal Housing Finance Board, stepped down at the end of December, the banks’ regulator said on Tuesday.

In July, Congress created a consolidated regulator to oversee the home loan banks as well as mortgage-finance companies Fannie Mae and Freddie Mac. That legislation and the new regulator, the Federal Housing Finance Board, effectively eliminated Rosenfeld’s position.

Rosenfeld had been chairman since December 2004 and was known as an affable figure who brought concord to an agency that had been been overseen by two short-lived directors.

“Ronnie was a great guy, whose door was always open to discuss matters, whether or not you had the same opinion,” said John von Seggern, head of the Council of Federal Home Loan Banks, which represents the government-backed lenders. (Reporting by Patrick Rucker; Editing by Leslie Adler)

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