The National Reverse Mortgage Lenders Association spoke in support Tuesday of personnel changes at the Department of Housing and Urban Development that shift Carol Galante, former deputy assistant secretary for multifamily housing, into the position of acting Federal Housing Administration commissioner and assistant secretary of housing.
“Carol Galante is a very talented and experienced executive who has surrounded herself with a strong team,” said Peter Bell, NRMLA president and CEO. “They have been successful in moving FHA multifamily programs forward and developing innovative approaches for dealing with preserving the nation’s affordable housing. We’re glad to see the Office of Single Family Housing come under her leadership.”
Additionally, Bell told RMD in an email, the association has been working with her and her team on a number of multifamily issues since she has been at HUD. “I am very excited about her appointment,” he said.
Galante replaces previous acting commissioner Bob Ryan, who will now serve as senior advisor for housing finance within the department.
In her new role, NRMLA noted, Galante will oversee the HECM program and manage the agency’s insurance portfolio which includes the MMI Fund that provides insurance to HECM lenders.
Written by Elizabeth Ecker