NAR President John Smaby issued the following statement after the Senate voted to confirm Dr. Mark Calabria as the next FHFA Director this afternoon.

"The National Association of Realtors® applauds the U.S. Senate for today confirming Dr. Mark Calabria as the next Director of the Federal Housing Finance Agency," said Smaby, a second-generation Realtor® from Edina, Minnesota.

"Dr. Calabria has decades of experience in the housing industry, including time spent as an economist at NAR, and he understands the critical importance of the FHFA's prudent management of America's housing finance system.

"As he begins his tenure, we urge Director Calabria to work closely with Congress in the effort to responsibly reform the GSEs, particularly in search of policies that protect the 30-year fixed rate mortgage, secure a government guarantee and emphasize taxpayer and consumer protection."

The National Association of Realtors is America's largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries.