One of NC's Own Slated For Nomination To Head Federal Housing Finance Agency

North Carolina Banking Commissioner, Joseph A Smith, Jr. is slated to be nominated by President Obama to head the Federal Housing Finance Agency (FHFA).  The FHFA  oversees both Freddie Mac and Fannie Mae. Smith’s current term as North Carolina’s Commissioner of Banks ends on March 31, 2011. He has held this office since June 2002.

As administration efforts to reform the housing market and finance system, Smith would become an integral part of restructuring the two mortgage companies. I am not sure of Mr. Smith’s ability to bring order back to chaos but I can’t help but hope for the best!