(From Yahoo in full context)

President-elect Barack Obama Saturday said he will nominate New York housing official Shaun Donovan as Secretary of Housing and Urban Development , calling the job "essential" to restoring the economy.

"To end this economic crisis, we must end the mortgage crisis where it began. This all started when Americans took out mortgages they couldn't afford," Obama said in a text of his weekly radio address to be delivered Saturday morning.

Noting that one in ten homeowners now faces some form of financial problem, a record high, Obama said he's already asked his forming administration to produce a plan that help more people keep their homes.

And the reason for the Pick

"He knows that we can put the dream of owning a home within reach for more families, so long as we're making loans in the right way, and so long as those who buy a home are prepared for the responsibilities of homeownership," Obama said.

Little Bio

(From Wiki, Taking in full context)

Born in New York, Donovan earned undergraduate and graduate degrees from Harvard University, studying public administration at the John F. Kennedy School of Government and architecture at the Graduate School of Design.^[2]

During the Clinton administration and the transition to the Bush administration, Donovan was Deputy Assistant Secretary for Multifamily Housing at HUD, and was acting FHA commissioner. He became New York City's housing commissioner in 2004.^[3][2]

During the 2008 United States Presidential campaign, Donovan worked for the Obama campaign.^[1]