White House Mulls FHA Replacement

The Bush administration is considering several candidates to take over the Federal Housing Administration and replace Commissioner John Weicher, who is slated to leave by the end of April.Cathy Whatley, past president of the National Association of Realtors, is one candidate for the FHA post, sources say. MortgageWire is also hearing that the White House has asked one of its political operatives to take the job, which requires Senate confirmation, and that the operative does not have a substantial housing background. FHA Commissioner Weicher informed his staff on March 11 that he would be stepping down after four years of service. HUD has still not made an official announcement. Rumors continue to circulate that Mr. Weicher may be appointed Ginnie Mae president -- a position that is vacant.