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Press Release
Statement of New York Superintendent of Banks Richard H. Neiman
Superintendent Neiman Supports the Administration's Nomination of Joseph Smith

November 12, 2010

A clear way forward in the mortgage market is needed more today than ever. President Obama’s nomination of Joe Smith to lead the Federal Housing Finance Agency is an ideal step in that direction.

Joe is a proven leader in the supervision of banks and nonbanks involved in the mortgage industry, including origination, lending and servicing. He showed strength and vision early in the mortgage crisis as an advocate for the creation of the Nationwide Mortgage Licensing System (NMLS), which has proven to be an effective model for coordination among the fifty states toward industry accountability.

In addition, Joe has stood out among the states for his advocacy in consumer protection and financial literacy.

The states' loss of Joe is the nation's gain today. The Administration is fortunate to soon have his wise counsel, and homeowners across America will be better off with a new passionate ally in Washington.

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