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BIOGRAPHY: The Honorable Armando Falcon Mr. Armando Falcon served as the chief regulator for the largest financial institutions in the world, Fannie Mae and Freddie Mac, which together have a US$ 3.4 trillion dollar balance sheet. Appointed by President Clinton as one of America’s top financial regulators in the role of Director of the Office of Federal Housing Enterprise Oversight (OFHEO). Mr. Falcon continued to serve in this role well into President George W. Bush’s second term. He was responsible for the safety and soundness issues surrounding the secondary mortgage market and housing finance. During this time Mr. Falcon oversaw the introduction of higher standards for risk management, accounting and corporate governance at both secondary mortgage market institutions. In addition to managing the agency and its diverse staff of some two hundred experienced examiners, financial analysts and attorneys, he also served on the President’s Corporate Fraud Task Force. Before his appointment as the Director of OFHEO, Mr. Falcon served as the General Counsel for the Committee on Banking and Financial Services in the US Congress. In that capacity, he was responsible for all major financial issues on behalf of the committee and its members including the Savings and Loan crisis. He was involved in the oversight of all financial regulators including the World Bank, the IMF, multilateral development banks, the Federal Reserve, the Office of the Comptroller of the Currency and other banking regulators. He also helped draft legislation regarding the Export-Import Bank, Deposit Insurance, Anti-Money Laundering, the Community Development Act and Government Securities Reform. He is now involved in developing financial products that serve the primary and secondary mortgage markets in many countries around the world. He advises governments on how to develop primary and secondary mortgage markets. He also helps investors understand the policy issues related to housing and mortgage markets and the secondary mortgage market institutions. Armando Falcon is a graduate of St. Mary’s University in San Antonio Texas. He earned a Masters in Public Policy from Harvard’s Kennedy School where he was a Sloan Fellow. He also holds a law degree from University of Texas Law School. He is a regular speaker at investor and business conferences including the Bond Market Association Annual Meeting, the Exchequer Club, and America’s Community Bankers, the Federal Reserve Bank of Chicago, the Mortgage Bankers Association, the Building Center of Japan and the China Institute for Policy Studies in Beijing.
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