THE WHITE HOUSE
Office of the Press Secretary
(Martha's Vinyard, Massachusetts)
_____________________________________________________________________
For Immediate Release August 29, 1997
PRESIDENT NAMES KEVIN G. CHAVERS AS DIRECTOR,
OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT,
U.S. DEPARTMENT OF HOUSING & URBAN DEVELOPMENT
The President today announced his intent to nominate Kevin G. Chavers as Director of the Office of Federal Housing Enterprise Oversight, U.S. Department of Housing and Urban Development.
Mr. Chavers, of Philadelphia, Pennsylvania, is the President of the Government National Mortgage Association (Ginnie Mae), at the U.S. Department of Housing and Urban Development (HUD). Prior to joining Ginnie Mae, Mr. Chavers served as the Chief of Staff at the Office of Federal Housing Enterprise Oversight (OFHEO) at HUD. Mr. Chavers is the former Counsel for the U.S. Senate Committee on Banking, Housing and Urban Affairs where he served from 1989 until his appointment at OFHEO. From 1987 to 1989, Mr. Chavers was an Associate at the New York law firm of Milbank, Tweed, Hadley & McCloy. Mr. Chavers received his J.D. from Harvard Law School in 1987 and his B.A. from the University of Virginia.
The Office of Federal Housing Enterprise Oversight, U.S. Department of Housing and Urban Development, was established as an entity within the Department of Housing and Urban Development by the Federal Housing Enterprises Financial Safety and Soundness Act of 1992. The primary function of the Office is to perform financial regulation of the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac).