The Washington Post

Obama names new acting head of FHA

President Obama has named Carol Galante as the acting commissioner of the Federal Housing Adminstration, effective Tuesday.

The appointment makes Galante, 56, the second consecutive acting commissioner since April to head the agency, which guarantees residential mortgage loans for low-income borrowers. She was previously deputy assistant secretary for multifamily housing at the FHA’s parent, the Department of Housing and Urban Development.

Galante replaces Robert C. Ryan, who had served as acting commissioner since David H. Stevens left the post to head the Mortgage Bankers Association at the end of March. Until then, Ryan was the agency’s first chief risk officer.

Ryan is now taking on a new role as a senior adviser to Housing and Urban Development Secretary Shaun Donovan, where he’ll focus on housing finance issues such as mortgage servicing standards and compensation.

“I am thrilled to have both Carol and Bob on board as we continue our mission to help the housing market recover,” Donovan said in a statement.

Show Comments

To keep reading, please enter your email address.

You’ll also receive from The Washington Post:
  • A free 6-week digital subscription
  • Our daily newsletter in your inbox

Please enter a valid email address

I have read and agree to the Terms of Service and Privacy Policy.

Please indicate agreement.

Thank you.

Check your inbox. We’ve sent an email explaining how to set up an account and activate your free digital subscription.