Mark Calabria, currently Vice President Mike Pence’s chief economist, is President Trump’s nominee to lead the Federal Housing Finance Agency. The FHFA is the chief regulator of mortgage giants Fannie Mae and Freddie Mac, the government-sponsored enterprises.

Calabria is a longtime advocate for ending government ownership of the GSEs. He further supports reforms that would greatly diminish the two firms’ dominance in the mortgage market. Such reforms are long overdue and would be a welcome sign for the stability of U.S. financial markets.