Vicki Bott, Deputy Assistant Secretary for Single-Family Housing at HUD , announced plans to leave the organization, effective Friday, June 24th according to an announcement on the NRMLA website.
In just over a year with HUD, Bott was supervised a staff that was primarily focused on the FHA's forward mortgage programs but was also closely involved in recent HECM developments. Bott directed the development and implementation of the HECM Saver program to provide a lower cost option of the FHA insured program. She also helped establish loss mitigation guidelines to address the tax and insurance technical default issue.
In the announcement, NRMLA President Peter Bell praised Bott's support for the HECM program and her willingness to meet with NRMLA to discuss solutions when pertinent HECM issues arose.
Bott made the announcement in a letter to her staff citing plans to focus more time and energy on personal family matters. She indicated that Acting FHA Commissioner will likely name an interim replacement while a search is conducted to find a new Deputy Assistant Secretary.