Edward Golding, a senior adviser at the U.S. Department of Housing and Urban Development (HUD), has been named by the White House as the leader of the Federal Housing Administration (FHA), according to HUD.
Sources at HUD told DS News on Thursday that Biniam Gebre will be stepping down from his role as acting commissioner of FHA and that Golding will be taking over the duties of that office. HUD confirmed that Golding's new title will be principal deputy assistant secretary and that he will assume that post on April 7.
"Ed Golding is fantastic and I am excited he is taking over from me," Gebre said via Twitter on Thursday.
Gebre had been serving as the acting commissioner of FHA since October 2014 following the departure of Carol Galante. Gebre, who has been with HUD since July 2013, last appeared before a group of industry leaders at the Five Star Institute's Government Forum at the Newseum in Washington, D.C., on March 18, where he was interviewed about housing policy on stage by Five Star President and CEO Ed Delgado.
"I'd like to thank Mr. Gebre for appearing with us last week at the Five Star Government Forum and for his service to the Federal Housing Administration," Delgado said. "We look forward to continuing the dialogue with FHA and working with Mr. Golding to further the cause of homeownership throughout the United States."
HUD Secretary Julián Castro said that Gebre will be joining HUD Deputy Secretary Nani Coloretti's team as a senior adviser.
"First, I want to thank Biniam for the outstanding work he’s done to help families across the nation achieve their housing goals and dreams," Castro said. "During his tenure, the FHA’s MMI fund turned positive and is on a strong track to continue growing stronger. FHA also made important strides in making homeownership more affordable and in expanding access to credit for hard working, responsible families. Through it all, Biniam has served our Department with distinction, and I know he’ll continue to make vital contributions in the Office of the Deputy Secretary. "
Golding, who joined HUD in June 2013, held several senior positions during a 23-year tenure with Freddie Mac, including SVP of Economics and Policy, Program Executive of Making Home Affordable, SVP of Economics and Strategic Analysis, and SVP of Capital Oversight and Economics. He joined Freddie Mac as a senior economist in 1989. He has an A.B. in applied mathematics from Harvard College and a Ph.D. in economics from Princeton University.
"Second, I would like to express my gratitude to Ed for taking on these new responsibilities as principal deputy assistant secretary," Castro said. "He has worked in the housing industry for over 25 years, including for the past two years at HUD and previously at the Urban Institute. Ed brings a wealth of knowledge and insight to his new role. Ed has been an invaluable adviser to me during my time as Secretary, and I’m confident that his experience and vision will be an incredible asset to FHA and the Office of Housing. We are fortunate to have these fine public servants on our HUD team, and I’m convinced they’re ready to take on these new roles with the same energy, enthusiasm and excellence that they’ve always brought to their work."
It was not immediately clear whether the White House will nominate Golding for the position of commissioner at FHA, which will require confirmation from the U.S. Senate.
Editor's note: The Five Star Institute is the parent company of DS News and DSNews.com.