Gov. Charlie Baker appointed two new members to the MassHousing board of directors and designated a new chair.
Margaret F. Wagner and Ping Yin Chai have been brought in to fill two vacancies on the nine-member governing body that oversees the state’s affordable housing bank, and current board member Michael J. Dirrane will serve as chairman.
Wagner is managing partner at First Atlantic Capital LLC, a real estate investment company located in Boston, with dealings throughout the country. She has previously held positions at Housing Partners Inc. and at Standard & Poor’s Ratings Services. She has an undergraduate degree from Yale University and a master’s degree in real estate development from the Massachusetts Institute of Technology.
Wagner is completing the term of Thomas O’Brien, who stepped down from the board last winter to focus on business commitments. O’Brien’s term ends in September 2017.
Chai is the president and chief executive officer of financial services institution Salem Five. Chai serves on an advisory board for Fannie Mae and has previously served on an advisory board for the Federal Home Loan Bank of Boston. He is a graduate of Bentley University and has a master’s degree in business administration from Suffolk University.
Chai will fill Ronald Homer’s position, whose term recently expired.
“Margaret and Ping Yin each have decades of experience in their respective real estate development and finance fields and I am pleased to announce their appointments,” Baker said in a statement. “MassHousing plays a vital role in the creation and preservation of affordable housing opportunities and as such they are an important part of our overall economic development team.”
MassHousing board members are unpaid volunteers, and typically serve seven-year terms.