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.”