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HUD selects Richard Green as senior advisor for housing finance

Currently serving as director of USC Lusk Center for Real Estate

The U.S. Department of Housing and Urban Development appears to have found a replacement for former HUD Senior Advisor Edward Golding, who recently took over as head of the Federal Housing Administration.

Richard Green, who currently serves as the director of the University of Southern California Lusk Center for Real Estate, will take over for Golding as HUD senior advisor on July 1.

“After dedicating my career to the study of housing economics and providing research and information intended to guide our country’s housing policy, it’s an honor to be invited to the front lines of our nation’s effort to provide safe, affordable housing to all,” Green said in a release provided by the Lusk Center.

Golding, a former Freddie Mac executive, took over as the leader of HUD from acting commissioner Biniam Gebre.

Green, who served as principal economist and director of financial strategy and policy analysis at Freddie Mac earlier in his career, will serve a one-year term in the role of senior advisor.

In his role at HUD, Green will advise on HUD’s top strategic objectives, including the creation of a sustainable housing system that provides support during market disruptions.

Green will also work with HUD’s Office of Policy Development and Research, where he will help set the agenda for housing finance research and play a key role in a range of housing finance projects.

Additionally, Green will help guide HUD’s ongoing efforts to ensure continued access to homeownership and multifamily investment opportunities for creditworthy borrowers while avoiding the problem of private gains and public losses, the Lusk Center said in a release.

Green will also take part in the work of HUD’s Office of Policy Development and Research with the FHA on issues that involve both offices and participate in cross agency housing groups, such as the weekly housing deputies meetings at the White House and the rental housing policy working group.

According to Green’s bio, prior to joining the USC faculty, he spent four years as the Oliver T. Carr, Jr., Chair of Real Estate Finance at The George Washington University School of Business. Green was also director of the Center for Washington Area Studies and the Center for Real Estate and Urban Studies at George Washington.

Green also taught real estate finance and economics courses for 12 years at the University of Wisconsin-Madison, where he was Wangard Faculty Scholar and Chair of Real Estate and Urban Land Economics.

More recently, Green was a visiting professor of real estate at the University of Pennsylvania’s Wharton School.

Raphael Bostic, who is the director of the USC Bedrosian Center on Governance and a former assistant HUD secretary, will serve as interim director of the USC Lusk Center while Green serves in his post at HUD.

Bostic was also recently elected to the board of governors of Freddie Mac. Bostic, 48, served as assistant secretary for policy development and research at HUD from 2009 to 2012. In this position, Bostic was a principal advisor to the Secretary of HUD on policy and research.

Bostic, who was previously the Lusk Center’s interim director prior to joining HUD for the first three years of the Obama administration, will direct both centers until Green returns to USC after June 2016.

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