Bob Ryan, a veteran of Freddie Mac, started Monday as the Federal Housing Administration's first senior risk officer. Ryan worked at Freddie for nearly 26 years, most recently as vice president of portfolio management and pricing in the single-family credit guarantee division.

FHA Commissioner David Stevens had pledged last month to install an experienced risk manager. The agency warned then that a forthcoming audit would show its capital reserve ratio falling below the congressionally mandated minimum of 2%.

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