Mortgage-banking veteran Bott leads FHA foreclosure-prevention effort
Vicki Bott hastily uprooted her husband, their three children, two dogs and a motor home from Austin to join the Federal Housing Administration six months ago and helped unveil the Obama administration's plan to revamp its faltering foreclosure-prevention efforts last week. "The thought of being a part of the government, or even being in D.C. taking part in all this, was the furthest thought from my mind a year ago," said Bott, 45, who had never been to the White House until Friday's announcement. "Sometimes it's a little surreal." As head of FHA's single-family housing programs, Bott is charged with rolling out a key part of the administration's initiative by putting in place policies that will enable lenders to refinance for some homeowners. A similar FHA program launched by the previous administration flopped, and the spotlight is now on the agency's new plan.