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The Senate Banking, Housing and Urban Affairs Committee voted Tuesday to recommend Joseph A. Smith Jr. as the next director of the beleaguered housing finance agencies Fannie Mae and Freddie Mac.
The mortgage giants have received $151 billion from the federal government to keep them afloat, and President Barack Obama must tell Congress his plan for reorganizing the agencies next month. Smith would be in charge of carrying that out. Get the full story »
North Carolina Banking Commissioner Joseph A. Smith Jr. is being tapped by the White House to head the regulatory agency that oversees mortgage giants Fannie Mae and Freddie Mac.
The Federal Housing Finance Agency has been without a permanent director since August 2009. A new director would preside over the mortgage-finance titans just as an intense political battle begins over what should happen to the companies. Get the full story »
