Washington -- The White House has withdrawn its nomination of Mark Brickell -- a former lobbyist at J.P. Morgan Chase & Co. -- to head the Office of Federal Housing Enterprise Oversight, the regulator to mortgage concerns Freddie Mac and Fannie Mae.
The scuttled nomination is the latest in a series of mishaps to impact OFHEO and its troubled charge, Freddie Mac. Virginia-based Freddie Mac has admitted to understating its financials by as much as $5 billion, while several top executives have subsequently been ousted from the company. It has also been fined $125 million by OFHEO.
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