Carol Galante has been named acting Federal Housing Administration commissioner (FHA) and assistant secretary for housing at the Department of Housing and Urban Development (HUD).
Galante steps into the role after serving as HUD’s deputy assistant secretary for multifamily housing since 2009.
Her move is one of several recent changes at the agency.
HUD Deputy Secretary Ron Sims, the department’s No. 2 official, announced plans to leave to return to his home and family in Seattle at the end of July.
Galante takes over as acting FHA commissioner from Robert Ryan, who has become senior adviser to HUD Secretary Shaun Donovan. Ryan will lead the interagency housing deputies’ team and will develop and represent HUD’s views on housing finance issues, including a long-term plan for the government-sponsored enterprises.
“Having previously served in the position Carol is vacating and the one she is stepping into, I am extremely confident that her proven track record is exactly what HUD needs to continue moving the FHA forward,” said Donovan in a statement. “I am also pleased to bring Bob Ryan into my office to work closely with me on issues such as housing finance reform. Bob is proven a leader in the mortgage finance industry who has diligently focused his attention on working to reform our nation’s housing finance system with a goal of moving it toward more stable ground. I am thrilled to have both Carol and Bob on board as we continue our mission to help the housing market recover.”
As acting FHA commissioner, Galante will oversee the agency’s insurance portfolio including multifamily housing, health-care facilities, and more than 20 percent of mortgages in the domestic single-family market.
Prior to joining HUD, she was president of San Francisco-based BRIDGE Housing for 13 years. One of the largest nonprofit affordable housing developers in California, BRIDGE has participated in the development of more than 13,000 homes.