Bob Ryan, a senior HUD official who launched FHA’s foray into risk management as it pertains to lenders, has accepted a position within the capital markets group at Wells Fargo Home Mortgage, according to two Washington sources who have been briefed on the matter.
These sources said Ryan will stay in the Washington area and help run capital markets. He will report to WFHM executive vice president John Gibbons, who years ago was chief financial officer at Freddie Mac.
Ryan, said one friend, is expected to be involved in Wells’ discussions regarding the future of Fannie Mae and Freddie Mac.
Wells is the largest issuer and servicer of GNMA MBS, according to figures compiled by National Mortgage News and the Quarterly Data Report.
The news was first reported by The Wall Street Journal.