Obama to Name North Carolina Regulator Fannie, Freddie Overseer

post — Alexander Marian @ 8:20 am — post Comments (0)
postNovember 10, 2010

President Barack Obama will nominate North Carolina Banking Commissioner Joseph A. Smith Jr. to be chief regulator for Fannie Mae and Freddie Mac as the administration prepares to overhaul the mortgage firms, according to White House officials briefed on the matter.

Smith, 61, will be named as soon as today as Obama’s choice to become director of the Federal Housing Finance Agency, according to the people, who declined to be identified because the decision hasn’t been made public. The agency has overseen the two companies since they were seized by regulators in September 2008.

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