President Barack Obama will nominate North Carolina Banking Commissioner Joseph A. Smith Jr. to be the new director of the Federal Housing Finance Agency (FHFA). FHFA is the chief regulator for Fannie Mae and Freddie Mac and has overseen the two GSEs since they were put into conservatorship in September 2008. FHFA is also the chief regulator for the Federal Home Loan Banks. This post must be confirmed by the US Senate. Read More…