Report: Fannie Mae Exec Will be Nominated Treasury Deputy Secretary

Posted: Jun 10, 2017 4:00 PM

Axios reports that Brian Brooks, Fannie Mae's general counsel, will be nominated as Deputy Secretary of the Treasury Department, "according to three sources with direct knowledge."

Brooks, a University of Chicago law school grad, previously worked with Treasury Secretary Steven Mnuchin at OneWest. Goldman Sachs exec Jim Donovan, another Mnuchin confidant, was originally tapped for this post but withdrew his name due to family concerns.

OneWest was "created from the ruins of IndyMac" then bought by CIT Group in 2015. Mnuchin faced questions about OneWest's foreclosure practices during his confirmation hearing, and, if Brooks is nominated, he will likely be asked about those practices as well.