Starting next month, a new leader will take the reins of the Federal Housing Administration (FHA), according to a memo this week from the Office of the Secretary for the Department of Housing and Urban Development (HUD).

On April 7, Ed Golding of HUD’s Office of Policy Development and Research (PD&R) will serve as the Principal Deputy Assistant Secretary of FHA, replacing Acting FHA Commissioner/Assistant Secretary Biniam Gebre.

“Ed brings a wealth of knowledge and insight to his new role,” Secretary Castro said in a written statement. “Ed has been an invaluable advisor to me during my time as Secretary, and I’m confident that his experience and vision will be an incredible asset to FHA and the Office of Housing.”

Having worked in the housing industry for over 25 years and the past two at HUD, Golding’s track record includes executive positions at Freddie Mac, where he served as senior vice president of economics and policy; senior vice president of economics and strategic analysis; and as program executive of the agency’s Making Home Affordable initiative.

His appointment comes as Gebre, who has been FHA’s acting commissioner since the October departure of then-commissioner Carol Galante, moves into his new role as a senior advisor in HUD Deputy Secretary Nani Coloretti’s team.

During Gebre’s tenure, FHA’s Mutual Mortgage Insurance fund turned positive — though the reverse portfolio remained in negative territory — as the agency made other strides in its efforts to make homeownership more affordable and expand access to credit for Americans nationwide.

“Through it all, Biniam has served our Department with distinction, and I know he’ll continue to make vital contributions in the Office of the Deputy Secretary,” Castro said. “We are fortunate to have these fine public servants on our HUD team, and I’m convinced they’re ready to take on these new roles with the same energy, enthusiasm and excellence that they’ve always brought to their work.”

Written by Jason Oliva