December 30, 2012

Statement by HUD Secretary Shaun Donovan
on the Senate's Confirmation of FHA Commissioner Carol Galante

"Today, the United States Senate took the important step of confirming Carol Galante to become the next Assistant Secretary for Housing and Commissioner of the Federal Housing Administration (FHA). I am pleased that a bipartisan majority in the Senate agreed that Carol offers responsible leadership at a time when we are pursuing necessary reforms to stabilize FHA's financial outlook.

"Under Carol's stewardship as Acting Assistant Secretary and Federal Housing Commissioner, HUD launched and integrated the Office of Risk Management and Regulatory Affairs into the Office of Housing. In addition, she has worked to expand housing opportunities for elderly and disabled residents and launched HUD's new Office of Housing Counseling. Further, Carol directed FHA insurance programs, through which HUD provided critical liquidity in the market while balancing two core missions - preserving affordable mortgage financing options for underserved borrowers and protecting our still-fragile housing recovery.

"I want to express my deep gratitude to members of the Senate who appreciate the combination of fiscal prudence and public purpose that Carol brings to this important post at this most critical time. Carol and I look forward to continuing to work with the Congress in the effort to strengthen FHA for future generations of American homeowners."

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