Risk Manager to Run FHA Once Stevens Steps Aside

The lending executive who became the firstrnRisk Manager of the Federal Housing Administration (FHA) will now, at least temporarilyrnhead the agency. </p

Robert C. Ryan will become Acting Commissioner of FHA,rnreplacing David H. Stevens.  Ryan willrnalso hold the title of Assistant Secretary of the Department of Housing andrnUrban Development.  Any permanent appointmentrnthe position is subject to confirmation by the U.S. Senate.</p

Ryan joined FHA on October 26, 2009 at a time whenrnit was facing unprecedented delinquencies and its capital reserves had fallen to 0.53 percent of totalrninsurance in force, significantly below the two percent level it is required byrnCongress to maintain. Ryan was responsible for establishing a new office withinrnFHA to oversee its credit risk management functions.  The office expanded the agencies capacity tornassess financial and operational risk, perform more sophisticated data analysisrnand respond quickly to changes in the market. rn</p

Prior to joining FHA Ryan held several senior executive positions atrnFreddie Mac and has a total of 26 years experience in the mortgage industry.  He holds a BS degree from George MasonrnUniversity and the Stanford Program of the Stanford Business School.</p

FHA’s website lists Ryan as Acting Assistant Secretary and FHArnCommissioner, however there has been no mention of when he is assuming hisrnduties.  The resignation of Stevens, whornis leaving FHA to serve as Chief Executive Officer of the Mortgage BankersrnAssociation was originally announced as effective June 1, however, the issue ofrnpotential conflicts of interest has come up in several publications includingrnMND as he continued to serve as FHA head.  

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