President Obama midweek signaled his intention to nominate Carol Galante to be the new Federal Housing Administration commissioner, the White House confirmed.
Galante is currently serving as the acting FHA commissioner -- a position she has held since July.
A former president of BRIDGE Corp., a developer of affordable housing in the San Francisco Bay area, she came to Washington in 2009 to run the FHA multifamily program.
Besides serving as commissioner, she oversees the FHA single-family, and loss mitigation programs.
In a recent interview, Galante said the agency's scrutiny of its servicers has resulted in increased staffing and other improvements. "At this point, everybody is trying to make improvements in their processes," she said.
Galante also is working on White House initiatives to expedite sales of foreclosed properties and expand refinancing programs to underwater borrowers.
