The successor regulator to the Federal Housing Finance Agency should be immediately infused with the FHFA’s talent and resources upon inception rather than a potentially “confusing and inefficient “ five-year transition period where past and future regulators would co-exist, an FHFA official told lawmakers this week. Testifying before the Senate Banking, Housing and Urban Affairs Committee, FHFA General Counsel Alfred Pollard told senators that moving all employees to the new agency – or possibly renaming and empowering the FHFA as the proposed Federal Mortgage Insurance Corp. – would avoid a potential brain drain.