President Barack Obama today nominated North Carolina’s top banking official to oversee Fannie Mae and Freddie Mac as head of the Federal Housing Finance Agency.

Obama tapped Joseph A. Smith Jr., the N.C. Commissioner of Banks, for the role of overseeing the quasi-governmental agencies just as they are about to undergo a re-structuring by Congress. He would have to be confirmed by a vote of the full Senate.

“Mr. Smith brings to this position both tremendous expertise and a deep commitment to strengthening our housing finance system for the American people,” Obama said in his nomination. “I’m grateful that he has accepted this nomination, and I look forward to working with him in the months and years to come.”

Smith also would over see the nation’s 12 Federal Home Banks. If confirmed, Smith would take charge at a critical time for the federal housing agency.
 

A new media campaign that aims to help North Carolina homeowners who face possible foreclosure is set to launch later this month.

The "Fight NC Foreclosure" campaign will include a series of public service announcements that will air on WRAZ/Fox 50  through December, according
to the State Employees' Credit Union. The credit union has teamed up with the N.C. Commissioner of Banks, the Center for Responsible Lending and Capital Broadcasting on the campaign.

The public service spots will tell homeowners facing foreclosure
where they can go to for help, according to the credit union. It also will shine a spotlight on the State Home Foreclosure Prevention Project, a state program that has helped more than 1,000 homeowners in North Carolina avoid foreclosure since it began in November.