The White House selected Michael Stegman, a senior official in the U.S. Department of the Treasury, to be the main housing adviser on the National Economic Council. Stegman will coordinate housing policy across the Obama administration to make sure programs and policy decisions are consistent with the administration’s larger economic goals.
According to the Wall Street Journal, Stegman joined Treasury four years ago and played a key role shaping policy on a range of housing issues, including efforts to broaden access to mortgage credit and to overhaul finance companies Fannie Mae and Freddie Mac. Stegman opposes taking steps to allow Fannie and Freddie to recapitalize themselves.
Stegman replaces Seth Wheeler, who is leaving the National Economic Council in June.
