A top housing adviser in the Obama administration Bob Ryan is swapping out his hat to become a senior mortgage-banking member of Wells Fargo Home Mortgage (WFC).
Ryan will become senior vice president within the capital markets group of the company, sources told HousingWire.
Currently, Ryan is a senior adviser to secretary Shaun Donovan of the U.S. Department of Housing and Urban Development.
He joined the agency in 2009 as the first ever chief risk officer at the Federal Housing Administration. As the chief risk officer, Ryan expanded the Federal Housing Administration's ability to assess financial and operational risk to its fund and perform more sophisticated data analysis.
Last year, Ryan briefly served as the agency’s acting FHA commissioner.
Ryan was also considered as a potential nominee among a very long list to succeed current acting director Ed DeMarco of the Federal Housing Finance Agency, sources told HousingWire.
During Ryan’s time at the FHA, he assisted in growing market share by more than 30 percentage points in four years with growing demand and lenders clamoring to write more FHA-approved loans.
The FHA share of mortgage origination market grew from 3% in 2005 to 37% in 2009. At the end of the third quarter of 2010, 21% of the 402,000 loans written in 2007 were delinquent by 90 days or more.
About 17% of the more than 1 million mortgages insured by the FHA in 2008 were in serious delinquency.
Previously, Ryan spent 26 years at Freddie Mac where he held a range of senior positions in capital markets and single-family mortgage credit divisions.