Carol Galante, a housing official and former affordable housing developer, has been named acting commissioner of the Federal Housing Administration (FHA).

Galante, 56, has overseen the Department of Housing and Urban Development’s (HUD) multi-family housing programs since March 2009 and has been an integral player in promoting initiatives for affordable housing.

As FHA’s acting commissioner, Galante will manage the agency’s insurance portfolio including multifamily housing, health care facilities and more than 20 percent of mortgages in the domestic single-family market.

FHA-backed loans accounted for about 34 percent of mortgages used to purchase a home in 2010, according to industry publication Inside Mortgage Finance.

Combined with Fannie Mae and Freddie Mac, more than 85 percent of all residential mortgages nationwide are backed by the government in some way.

"I am extremely confident that her proven track record is exactly what HUD needs to continue moving the FHA forward," Housing Secretary Shaun Donovan said in statement.

The previous commissioner, David Stevens, left the agency in March and took the role as the Mortgage Bankers Association chief executive.