first_imgSubscribe Carol Galante FHA 2014-08-11 Tory Barringer FHA Commissioner to Step Down Home / Daily Dose / FHA Commissioner to Step Down Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Demand Propels Home Prices Upward 2 days ago Tagged with: Carol Galante FHA The Best Markets For Residential Property Investors 2 days ago Related Articles Sign up for DS News Daily About Author: Tory Barringer in Daily Dose, Featured, Government, Headlines, Newscenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Share Save Less than two years after being confirmed as the head of the Federal Housing Administration (FHA), Commissioner Carol Galante is making plans to step down from her post.In a message sent to her staff Monday morning, Galante revealed that she intends to depart from HUD by the end of this year, after which she will assume a distinguished professorship at the University of California, Berkeley, where she received her master’s in city planning.She will also serve as the director of UC’s Berkeley Program in Housing and Urban Policy and will co-chair the Fisher Center on Real Estate’s Policy Advisory Board, according to the letter.Galante has been with HUD for five years, starting her career at the department as deputy assistant secretary for multifamily housing. She was nominated by President Obama for the role of FHA commissioner in 2011, receiving her confirmation from the Senate in late 2012, only a month after an audit revealed the agency’s mortgage insurance fund had plummeted deep into the red as a result of losses it took following the housing bust.Despite efforts made to restore the fund, FHA was forced last year to take a $1.7 billion Treasury draw to strengthen its financial position.This is a developing story. Check back later for more details. Previous: Florida Focus: Negative Equity Rate in Tampa Bay is Problematic Next: Florida Based Services Firm Reports Q2 Net Loss Demand Propels Home Prices Upward 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago August 11, 2014 685 Views The Best Markets For Residential Property Investors 2 days ago Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington’s student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News’ sister publication, MReport, which focuses on mortgage banking news.  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days agolast_img

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