Housing Secretary Donovan to stay on for second term

Housing and Urban Development Secretary Shaun Donovan will continue in his current role for a second term under President Barack Obama.

Donovan, who was New York City’s housing commissioner before taking the top housing post in 2009, is expected to play a central role in the Obama administration’s efforts to keep the Federal Housing Administration solvent.

During Donovan’s second term, administration officials and lawmakers in Washington are expected to draw up more concrete plans on the government’s future role in the mortgage market, including the fate of housing giants Fannie Mae and Freddie Mac.

Reuters

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