The U.S. Department of Housing & Urban Development (HUD) has announced the appointment of Robert C. Ryan as Acting Assistant Secretary for Housing and Federal Hosuing Adminsistration (FHA) Commissioner. Ryan, who most recently served as Deputy Assistant Secretary for Risk Management and Regulatory Affairs and FHA’s Chief Risk Officer, replaced David H. Stevens on April 1st. Stevens is set to take over as head of the Mortgage Bankers Association (MBA) on June 1st.
Ryan joined HUD in October of 2009 as the first Chief Risk Officer in the history of the FHA. In that capacity, he was responsible for establishing a new Office of Risk Management, which oversees FHA’s credit risk management functions, encompassing all of its insurance product lines, including single family, multifamily and healthcare. That office has expanded FHA’s capacity to assess financial and operational risk, perform more sophisticated data analysis, and respond quickly to changes in the market. Ryan came to HUD from Freddie Mac, where he held several senior positions in capital markets, single family pricing and credit, and the Office of the President. He has more than 26 years of experience in all aspects of the mortgage market and leadership experience with profit and loss accountability and an understanding of the mortgage origination and capital markets processes.
“Given the leadership Bob has show thus far at HUD, I have complete confidence in his ability to help ensure continuity and protect the health of the FHA," said Shaun Donovan in a memo to HUD staffers. "Bob is proven a leader in the mortgage finance industry who has focused his attention on minimizing risk to the FHA fund, while working to make sure the FHA can continue to help families as it has for more than 75 years. I look forward to his continued leadership in his new role at HUD."