Joseph Smith Tapped to Head FHFA

WASHINGTON, DC-President Obama has nominated Joseph A. Smith Jr. to take the helm of the Federal Housing Finance Agency, a post that has been vacant for more than a year. If he is confirmed by the Senate, Smith will take over a role that has been led by the agency’s chief operating officer, Edward DeMacro, during the interim. Smith has been the commissioner for North Carolina since 2002. Prior to that he was general counsel for Centura Banks. His term as commissioner ends in March.

One of his chief responsibilities will be, of course, oversight of the GSEs, which have been in government conservatorship for the past two years. Assuming he is confirmed, Smith will take the FHFA’s helm with the House of Representatives under Republican control.