Join us on LinkedIn Follow us on Twitter Like us on Facebook
 
  OCTOBER RESEARCH STORE Already a subscriber? LOG IN
AddControlToContainer_DynamicNavigation6

HUD finally gets top three confirmed again

Add This Email A Friend Printer Friendly Version
0 comments
Friday, July 31, 2020

It has been more than 18 months since the Department of Housing and Urban Development (HUD) had Senate-confirmed leads in its top three positions, but that finally is the case, as the Senate easily confirmed Dana Wade as the Federal Housing Administration commissioner.

She joined HUD Secretary Ben Carson and Deputy Secretary Brian Montgomery atop the agency’s leadership.

If the three remain in place the rest of the year, they will be in office together for five months. The only other time three Senate-confirmed leaders have been at HUD in President Donald Trump’s agency was in a nine-month stretch from May 2018 to January 2019, when Carson, Deputy Secretary Pam Patenaude and FHA Commissioner Montgomery served together in those roles.

Wade served as acting FHA commissioner earlier in the Trump administration, from July 2017 to June 2018, before joining the Office of Management and Budget as program associate director for general government.

“I want to congratulate Dana Wade on her confirmation by the United States Senate to serve as the commissioner of the Federal Housing Administration,” Carson said in a press release. “Dana has been a tremendous asset to the department and the administration throughout her years of service, and I have full confidence in her ability to successfully lead FHA.”

Wade was confirmed by a 57-40 vote in the Senate.

“I join Secretary Carson in congratulating Dana on her confirmation and welcoming her back to FHA, where I know she will do an outstanding job serving the American people,” Montgomery stated. “We are grateful to have her considerable talents and knowledge to help guide the agency as our nation pulls through this pandemic.”

In Congress, Wads served in senior roles including deputy staff director for the Senate Banking Committee and deputy staff director for the Senate Appropriations Committee under Sen. Richard Shelby (R-Ala.).

“I’m extremely grateful for this opportunity to hit the ground running during this critical time for our nation’s housing markets,” Wade stated.

The confirmation announcement was greeted with support from the industry.

“MBA (Mortgage Bankers Association) applauds the Senate for confirming Dana Wade to be the next FHA commissioner,” MBA President and CEO Bob Broeksmit said in a statement. “During her tenure at HUD, Ms. Wade has been an integral part in strengthening the various programs that provide affordable housing opportunities and assistance to homebuyers and renters. With her expertise and experience, I am confident that Ms. Wade will be successful in developing workable solutions during this unprecedented time.

“We look forward to continuing to work with her, Secretary Ben Carson, Deputy Secretary Brian Montgomery, and others in the administration on policies and programs to ensure a sustainable housing market while offering relief for affected borrowers and renters, and protecting taxpayers.”

CBC Mortgage Agency (CBCMA) President Richard Ferguson also added his support.

“During her confirmation hearing, Ms. Wade stated she will do everything possible as FHA commissioner to help the United States emerge from the COVID-19 pandemic as a better country. This is especially important for Americans of color, who have suffered the brunt of the impact from the health crisis,” Ferguson said in a statement. “CBCMA looks forward to working with Commissioner Wade on downpayment assistance models that can safely and sustainably improve access to homeownership.”

Today's other top stories
‘Rent-a-bank’ schemes garner CFPB’s focus
More layoffs hit the mortgage industry as rates hit record highs
FDIC finds minorities paid more to refinance
Closings down in May as inventory grew
COVID-19 relief fraud enforcement continues


COMMENT BOX DISCLAIMER:
October Research is not responsible for the comments posted on its websites by readers. We will do our best to remove comments that include profanity or personal attacks or other inappropriate comments.
Comments:

Be the first to leave a comment.

Leave your comment
CAPTCHA Validation
CAPTCHA
Code:
: 
: 
Your Email is for reporting purposes only. It will NOT be displayed.
Popularity:
This article has been viewed 2123 times.

Monthly Newsletter

Dodd Frank Update July 2022

Cover Story:

LexisNexis looks at the true cost of fraud in mortgage origination


Tweets from @DoddFrankUpdate/lists/industry-news
News by Topic   News by Edition   News by Agency   News by Industry   Special Reports   Webinars
Banking
Case Law
Consumer Protection
Financial Stability
Industry Spotlight
Legislation
Nonbank Financial
The TRID Journey
 
Dodd Frank Update April 2022
Dodd Frank Update May 2022
Dodd Frank Update June 2022
Dodd Frank Update July 2022
Archives
 
CFPB NCUA
CFTC OCC
FDIC OFR
FHFA SEC
FRB States
FSOC Treasury
FTC  
 
Appraisal
Broker-Dealer
Community Banks & Credit Unions
Land Title
Mortgage
Payday Lending
 
Forbearance Has Ended, Now What?
2022 State of the Industry
Mortgage Technology
Real Estate Compliance Outlook
Optimizing AI and Blockchain for the Future
Archives
 
Utilizing Tech for RESPA Compliance
Collaborating on eClosings
Economic Forecast Series
Industry and Regulatory Outlook
Archives

Library   About   Subscribe   Store
The Dodd-Frank Act Position Papers
Dodd-Frank Summary & History Legislation
Court Actions Regulations
Enforcement Documents Reports, Studies and Surveys
Guidance Documents Federal Register Notices
White Papers  
 
Dodd Frank Update
Contact / Editors
Advertise
Social Media
Are You An Expert?
Subscriber Agreement
 
Subscriptions
Free Email Updates
Try a Free Edition
 
NS3 The Summit
Other Newsletters
The Title Report
The Legal Description
Valuation Review
RESPA News
Copyright © 2011-2022 Dodd Frank Update
An October Research, LLC publication
3046 Brecksville Road, Suite D, Richfield, OH 44286
(330) 659-6101, All Rights Reserved
www.doddfrankupdate.com | Privacy Policy
VISIT OUR OTHER WEBSITES
> The Legal Description
> RESPA News
> The Title Report
> Valuation Review
> The October Store


Loading... Loading...
Featuring:
  • Delivery 3X a week plus breaking news as it happens
  • Comprehensive title insurance industry news
  • Recent acquisitions, mergers, real estate stats
  • Exclusive in-depth coverage of the industry's hottest stories
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Comprehensive Dodd-Frank coverage
  • The latest information from the CFPB
  • Full coverage of Congressional hearings
  • Updates on all agency actions
  • Analysis of controversial provisions
  • Release of newest studies and reports
Sign up today and...
  • Be one of the first to know where NS3 is being held
  • Learn about NS3 speakers and sessions
  • Save on registration with Super-Early Bird rates
  • Discover the networking opportunities NS3 offers
  • Find out if CE credits will be offered for your area
  • And much more
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Preview the latest RESPAnews.com Top Story
  • RESPA related headline news
  • Quote of the Week
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • Legal, regulatory and legislative information impacting the settlement services industry
  • News from HUD, Congress, state legislatures and other regulatory agencies
  • Follow the lobbying efforts of all the major national real estate services organizations.
Featuring:
  • Delivery 2X a week plus breaking news as it happens
  • The industry's only full-time newsroom
  • Relevant, up-to-date appraisal industry news
  • Covering the hottest stories and industry trends
NEWS BY TOPIC
EDITION
AGENCY
INDUSTRY
SPECIAL REPORTS
WEBINARS
LIBRARY
EMAIL UPDATES
ABOUT
SUBSCRIBE
Banking
Case Law
Consumer Protection
Financial Stability
Industry Spotlight
Legislation
Nonbank Financial
The TRID Journey
CFPB
CFTC
FDIC
FHFA
FRB
FSOC
NCUA
OCC
OFR
SEC
States
Treasury
Appraisal
Broker-Dealer
Community Banks & Credit Unions
Land Title
Mortgage
Payday Lending
Best Practices
Forbearance
2022 State of the Industry
2021 Mortgage Technology
Real Estate Compliance Outlook
Archives
CFPB Update
Move to ANSI Standards
Tech for RESPA Compliance
Collaborating on eClosings
2022 Economic Forecast Series
Industry and Regulatory Outlook
Complying with the New CFPB
Evolving Lender Relationships
RESPA Section 9
Getting to Know Your Regulators
Webinar Archives
Executive Interview Series
eClosing Solutions Showcase
Lender Associations
The Dodd-Frank Act
Dodd-Frank Summary
Court Actions
Enforcement Documents
Guidance Documents
White Papers
Position Papers
Legislation
Regulations
Reports, Studies and Surveys
Federal Register Notices
Proposals
Final Rules
GAO
Agency
Contact Us
Advertise
Social Media
Are You An Expert?
Subscriber Agreement