Ron Rosenfeld
Encyclopedia
Ronald A. "Ron" Rosenfeld is an American
politician
and housing expert. Rosenfeld has previously served in numerous U.S. federal and Oklahoma state government
positions relating to housing. He served as Chairman of the Federal Housing Finance Board
and President of the Government National Mortgage Association
under President of the United States
George W. Bush
and as Oklahoma Secretary of Commerce
under Governor of Oklahoma
Frank Keating
.
and received law degree
from Harvard. He then began a career in real estate development and investment banking
. In 1981, Rosenfeld became a partner for Prescott, Ball and Turbent, a regional investment banking firm headquartered in Cleveland, Ohio
. When that firm was acquired by Kemper Financial Services, Rosenfeld became that firm's Executive Vice President.
Vice President of the United States
George H.W. Bush was elected President
, defeating Democratic
Governor of Massachusetts
Michael Dukakis
. Following Bush's inauguration, Rosenfeld was appointed by Housing and Urban Development Secretary
Jack Kemp
as Deputy Assistant Secretary of Housing with the Federal Housing Administration
. While with the FHA, Rosenfeld had responsibility for overseeing both single family and multifamily housing programs of the FHA. He was later appointed as Deputy Assistant Secretary for Corporate Finance with the Department of the Treasury
by Treasury Secretary
Nicholas F. Brady
in 1992.
in 1995. In 1997 Republican Governor of Oklahoma
Frank Keating
appointed Rosenfeld as his second Secretary of Commerce
. As Commerce Secretary, Rosenfeld oversaw all state agencies responsible for promoting economic development
, community development
and workforce development.
Following the 1998 Oklahoma general elections, Rosenfeld resigned as Secretary and returned to Washington, D.C.
to seek private work. Governor Keating appointed Howard Barnett, Jr.
, a Tulsa businessman, to succeed him.
George W. Bush
appointed him as President of the Government National Mortgage Association
. He remained as Ginnie Mae President until December 14, 2005, when President Bush, through recess appointment
, designated him chairman of the Federal Housing Finance Board
(FHFB). During Ronseld's tenure as chairman, the FHFB was merged with the Office of Federal Housing Enterprise Oversight
to create the Federal Housing Finance Agency
as a result of the enactment of the Housing and Economic Recovery Act of 2008
. Ronseld continued to serve as chairman until his resignation on December 31, 2008.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
politician
Politician
A politician, political leader, or political figure is an individual who is involved in influencing public policy and decision making...
and housing expert. Rosenfeld has previously served in numerous U.S. federal and Oklahoma state government
Government of Oklahoma
The government of the US State of Oklahoma, established by the Oklahoma Constitution, is a republican democracy modeled after the Federal government of the United States. The state government has three branches: the executive, legislative, and judicial...
positions relating to housing. He served as Chairman of the Federal Housing Finance Board
Federal Housing Finance Board
The Federal Housing Finance Board was an independent agency of the United States government established in 1989 in the aftermath of the savings and loan crisis to take over oversight of the Federal Home Loan Banks , and was superseded by the Federal Housing Finance Agency in 2008.The FHFB...
and President of the Government National Mortgage Association
Government National Mortgage Association
The Government National Mortgage Association , or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development , Ginnie Mae’s mission is to expand affordable housing in the U.S. by...
under President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
and as Oklahoma Secretary of Commerce
Oklahoma State Cabinet
The Cabinet of the Governor of Oklahoma is a body of the most senior appointed officials of the executive branch of the government of Oklahoma. Originally an informal meeting between the Governor of Oklahoma and various government officials, the Governor's Cabinet has evolved into a major part of...
under Governor of Oklahoma
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
Frank Keating
Frank Keating
Francis Anthony "Frank" Keating is an American politician from Oklahoma. Keating served as the 25th Governor of Oklahoma. His first term began in 1995 and ended in 1999...
.
Early life and career
Rosenfeld graduated from the Wharton School at the University of PennsylvaniaUniversity of Pennsylvania
The University of Pennsylvania is a private, Ivy League university located in Philadelphia, Pennsylvania, United States. Penn is the fourth-oldest institution of higher education in the United States,Penn is the fourth-oldest using the founding dates claimed by each institution...
and received law degree
Law degree
A Law degree is an academic degree conferred for studies in law. Such degrees are generally preparation for legal careers; but while their curricula may be reviewed by legal authority, they do not themselves confer a license...
from Harvard. He then began a career in real estate development and investment banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
. In 1981, Rosenfeld became a partner for Prescott, Ball and Turbent, a regional investment banking firm headquartered in Cleveland, Ohio
Cleveland, Ohio
Cleveland is a city in the U.S. state of Ohio and is the county seat of Cuyahoga County, the most populous county in the state. The city is located in northeastern Ohio on the southern shore of Lake Erie, approximately west of the Pennsylvania border...
. When that firm was acquired by Kemper Financial Services, Rosenfeld became that firm's Executive Vice President.
George HW Bush Administration
In 1989, RepublicanRepublican Party (United States)
The Republican Party is one of the two major contemporary political parties in the United States, along with the Democratic Party. Founded by anti-slavery expansion activists in 1854, it is often called the GOP . The party's platform generally reflects American conservatism in the U.S...
Vice President of the United States
Vice President of the United States
The Vice President of the United States is the holder of a public office created by the United States Constitution. The Vice President, together with the President of the United States, is indirectly elected by the people, through the Electoral College, to a four-year term...
George H.W. Bush was elected President
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
, defeating Democratic
Democratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
Governor of Massachusetts
Governor of Massachusetts
The Governor of the Commonwealth of Massachusetts is the executive magistrate of the Commonwealth of Massachusetts, United States. The current governor is Democrat Deval Patrick.-Constitutional role:...
Michael Dukakis
Michael Dukakis
Michael Stanley Dukakis served as the 65th and 67th Governor of Massachusetts from 1975–1979 and from 1983–1991, and was the Democratic presidential nominee in 1988. He was born to Greek immigrants in Brookline, Massachusetts, also the birthplace of John F. Kennedy, and was the longest serving...
. Following Bush's inauguration, Rosenfeld was appointed by Housing and Urban Development Secretary
United States Secretary of Housing and Urban Development
The United States Secretary of Housing and Urban Development is the head of the United States Department of Housing and Urban Development, a member of the President's Cabinet, and thirteenth in the Presidential line of succession. The post was created with the formation of the Department of Housing...
Jack Kemp
Jack Kemp
Jack French Kemp was an American politician and a collegiate and professional football player. A Republican, he served as Housing Secretary in the administration of President George H. W. Bush from 1989 to 1993, having previously served nine terms as a congressman for Western New York's 31st...
as Deputy Assistant Secretary of Housing with the Federal Housing Administration
Federal Housing Administration
The Federal Housing Administration is a United States government agency created as part of the National Housing Act of 1934. It insured loans made by banks and other private lenders for home building and home buying...
. While with the FHA, Rosenfeld had responsibility for overseeing both single family and multifamily housing programs of the FHA. He was later appointed as Deputy Assistant Secretary for Corporate Finance with the Department of the Treasury
United States Department of the Treasury
The Department of the Treasury is an executive department and the treasury of the United States federal government. It was established by an Act of Congress in 1789 to manage government revenue...
by Treasury Secretary
United States Secretary of the Treasury
The Secretary of the Treasury of the United States is the head of the United States Department of the Treasury, which is concerned with financial and monetary matters, and, until 2003, also with some issues of national security and defense. This position in the Federal Government of the United...
Nicholas F. Brady
Nicholas F. Brady
Nicholas Frederick Brady was United States Secretary of the Treasury under Presidents Ronald Reagan and George H. W. Bush, and is also known for articulating the Brady Plan in March 1989.-Early life:...
in 1992.
Private Sector
Rosenfeld left the federal government in 1993 to become the Executive Vice President of NHP, Inc., and President of the National Corportation for Housing Partnerships, a firm involved in ownership and management of affordable multifamily housing.Keating Administration
Rosenfeld moved to OklahomaOklahoma
Oklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
in 1995. In 1997 Republican Governor of Oklahoma
Governor of Oklahoma
The governor of the state of Oklahoma is the head of state for the state of Oklahoma, United States. Under the Oklahoma Constitution, the governor is also the head of government, serving as the chief executive of the Oklahoma executive branch, of the government of Oklahoma...
Frank Keating
Frank Keating
Francis Anthony "Frank" Keating is an American politician from Oklahoma. Keating served as the 25th Governor of Oklahoma. His first term began in 1995 and ended in 1999...
appointed Rosenfeld as his second Secretary of Commerce
Oklahoma State Cabinet
The Cabinet of the Governor of Oklahoma is a body of the most senior appointed officials of the executive branch of the government of Oklahoma. Originally an informal meeting between the Governor of Oklahoma and various government officials, the Governor's Cabinet has evolved into a major part of...
. As Commerce Secretary, Rosenfeld oversaw all state agencies responsible for promoting economic development
Economic development
Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area...
, community development
Community development
Community development is a broad term applied to the practices and academic disciplines of civic leaders, activists, involved citizens and professionals to improve various aspects of local communities....
and workforce development.
Following the 1998 Oklahoma general elections, Rosenfeld resigned as Secretary and returned to Washington, D.C.
Washington, D.C.
Washington, D.C., formally the District of Columbia and commonly referred to as Washington, "the District", or simply D.C., is the capital of the United States. On July 16, 1790, the United States Congress approved the creation of a permanent national capital as permitted by the U.S. Constitution....
to seek private work. Governor Keating appointed Howard Barnett, Jr.
Howard Barnett, Jr.
Howard G. Barnett, Jr. is an American businessman and politician from Oklahoma who is currently serving as the President of Oklahoma State University-Tulsa....
, a Tulsa businessman, to succeed him.
George W Bush Administration
After three years in the private sector, Ronseld returned to the federal government. In July 2001, Republican President of the United StatesPresident of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
appointed him as President of the Government National Mortgage Association
Government National Mortgage Association
The Government National Mortgage Association , or Ginnie Mae, was established in the United States in 1968 to promote home ownership. As a wholly owned government corporation within the Department of Housing and Urban Development , Ginnie Mae’s mission is to expand affordable housing in the U.S. by...
. He remained as Ginnie Mae President until December 14, 2005, when President Bush, through recess appointment
Recess appointment
A recess appointment is the appointment, by the President of the United States, of a senior federal official while the U.S. Senate is in recess. The U.S. Constitution requires that the most senior federal officers must be confirmed by the Senate before assuming office, but while the Senate is in...
, designated him chairman of the Federal Housing Finance Board
Federal Housing Finance Board
The Federal Housing Finance Board was an independent agency of the United States government established in 1989 in the aftermath of the savings and loan crisis to take over oversight of the Federal Home Loan Banks , and was superseded by the Federal Housing Finance Agency in 2008.The FHFB...
(FHFB). During Ronseld's tenure as chairman, the FHFB was merged with the Office of Federal Housing Enterprise Oversight
Office of Federal Housing Enterprise Oversight
The Office of Federal Housing Enterprise Oversight was an agency within the Department of Housing and Urban Development. It was charged with ensuring the capital adequacy and financial safety and soundness of two government sponsored enterprises—the Federal National Mortgage Association and the...
to create the Federal Housing Finance Agency
Federal Housing Finance Agency
The Federal Housing Finance Agency is an independent federal agency created as the successor regulatory agency resulting from the statutory merger of the Federal Housing Finance Board , the Office of Federal Housing Enterprise Oversight , and the U.S...
as a result of the enactment of the Housing and Economic Recovery Act of 2008
Housing and Economic Recovery Act of 2008
The Housing and Economic Recovery Act of 2008 designed primarily to address the subprime mortgage crisis. It authorized the Federal Housing Administration to guarantee up to $300 billion in new 30-year fixed rate mortgages for subprime borrowers if lenders write-down principal loan balances to 90...
. Ronseld continued to serve as chairman until his resignation on December 31, 2008.