Skip to main content

Revolving Door of FHA Leadership Continues as Carol Galante is Named Acting Commissioner

NationalMortgageProfessional.com
Jul 12, 2011

Shaun Donovan, secretary of the U.S. Department of Housing & Urban Development (HUD) has announced that Carol Galante has been designated by President Barack Obama as the Acting Federal Housing Adminstration (FHA) Commissioner and Assistant Secretary of Housing. Galante will be replacing Robert C. Ryan, who is moving on within the department to become Senior Advisor for Housing Finance. Ryan originally joined HUD team to oversee the FHA’s enterprise risk management functions. Ryan was named Acting Commissioner in early April of 2011 after David H. Stevens announced his resignation from the position of FHA Commissioner and his intentions to join the Mortgage Bankers Association (MBA) as their new president and chief executive officer. Galante assumes the role of Acting FHA Commissioner after serving as Deputy Assistant Secretary for MultiFamily Housing since March of 2009. She came to the department with 22 years of experience, serving as president and chief executive officer of BRIDGE Housing in San Francisco, a non-profit company that is one of the largest developers of affordable housing in the state of California. “Carol Galante is a very talented and experienced executive who has surrounded herself with a strong team,” said Peter Bell, president and chief executive officer of the National Reverse Mortgage Lenders Association (NRMLA). “They have been successful in moving FHA multifamily programs forward and developing innovative approaches for dealing with preserving the nation's affordable housing. We're glad to see the Office of Single Family Housing come under her leadership.”
Published
Jul 12, 2011
Fed Slows Rate Hike Pace, OK’s 0.25% Bump

Rate hike is 8th since March 2022.

Regulation and Compliance
Feb 01, 2023
Report: Fannie, Freddie Note Sales Undercut Homeownership Goals

National Consumer Law Center report says sales to private investors strip borrowers of access to loss-mitigation options.

Regulation and Compliance
Jan 31, 2023
FHA Expands COVID-19 Recovery Loss-Mitigation Options

Updated and expanded options intended to help more borrowers avoid foreclosure.

Regulation and Compliance
Jan 31, 2023
Complex Algorithms Causing Complex Compliance Issues

Complying with Reg B and ECOA on adverse action

Regulation and Compliance
Jan 27, 2023
The State Of Remote Work In Mortgage

Regulations are catching up with remote work, are you prepared?

Regulation and Compliance
Jan 27, 2023
Becoming The Interest Rate Expert

Understand the five main variable components of rate-sheet pricing and interest rates

Regulation and Compliance
Jan 27, 2023