MortgageReverse

President Obama Nominates Galante for FHA Chief Post

The White House has nominated Carol Galante, current Federal Housing Administration acting commissioner, to become the permanent FHA chief and Assistant Secretary of the Department of Housing and Urban Development.

In 2009, the president appointed Galante as Deputy Assistant Secretary for the Office of Multifamily Housing at HUD and prior to working for the housing department, she led BRIDGE Housing, specializing in building mixed-income housing. In her work at BRIDGE, she managed large revitalization and economic development projects in partnership with the government, private industry and other nonprofits.

At HUD, Galante manages the FHA’s insurance portfolio, including multifamily housing, health care facilities, and more than 20% of mortgages in the domestic single-family market.

Galante is scheduled to address attendees of the National Reverse Mortgage Lender Association’s (NRMLA) annual conference during its sixth general session on Tuesday, Oct. 25. Her most recent correspondence with the reverse mortgage industry was through a HECM Program Update letter sent in early October.

NRMLA has indicated its support for Galante in her commissioner role.

Written by Elizabeth Ecker

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