Senate Banking Committee approves Brian Montgomery to lead FHA

Votes to send nomination to full Senate vote

Brian Montgomery is now one step closer to leading the Federal Housing Administration for the second time.

On Tuesday, the Senate Banking, Housing, and Urban Affairs Committee advanced Montgomery’s nomination to serve as FHA commissioner by an 18-5 margin.

Now, Montgomery’s nomination moves on to a full Senate vote.

If approved by the Senate, Montgomery will take over for acting FHA commissioner Edward Golding.

It would mark Montgomery's second time as FHA commissioner. He previously held the job under Former President George W. Bush, staying on for six months after former President Barack Obama’s inauguration. 

In addition to previously serving in the position of assistant secretary for Housing and FHA commissioner at the Department of Housing and Urban Development, Montgomery also held a handful of other top positions throughout the government and housing industry, including co-founder and partner at the Collingwood Group, Deputy Assistant to the President and Cabinet Secretary, board member on the Federal Housing Finance Board, the Housing and Economic Recovery Act of 2008 Oversight Board, and NeighborWorks America Board.

Montgomery’s nomination was greeted warmly by the housing industry.

“NAHB applauds the nomination of Brian Montgomery to become the new FHA commissioner,” Granger MacDonald, Nationals Association of Home Builders chairman, said back in September. “Having held this same position under President George W. Bush and for six months under President Obama, Montgomery brings a wealth of housing knowledge to the job and will hit the ground running.”

The Mortgage Bankers Association also recently urged the Senate Banking Committee to advance Montgomery’s nomination, which it did on Tuesday.

And the National Association of Realtors celebrated the advancement of Montgomery’s nomination.

“It’s no secret that affordability concerns are standing in the way of otherwise creditworthy homebuyers all across the country. Millennials, and first-time buyers especially, depend on FHA for a safe low-down-payment option to help make that important first entry point into homeownership,” National Association of Realtors President Elizabeth Mendenhall said Tuesday.

“Realtors believe FHA’s work to help those buyers is absolutely critical, and for that reason we need solid leadership guiding the way. Brian Montgomery is ready to do the job on day one, having already served in the position under presidents from both parties,” Mendenhall added. “He understands the issues and the challenges our country has ahead of us, and Realtors are excited to see his nomination moving forward.”

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