What to expect at HousingWire’s Spring Summit

The focus of the Summit is The Year-Round Purchase Market. Record low rates led to a banner year for mortgage lenders in 2020, and this year is expected to be just as incredible.

Increasing lending and servicing capacity – regardless of rates

Business process outsourcing and digital transformation are proven solutions that more companies in the mortgage industry are turning to. Download this white paper for more.

HousingWire's 2021 Spring Summit

We’ve gathered four of the top housing economists to speak at our virtual summit, a new event designed for HW+ members that’s focused on The Year-Round Purchase Market.

An Honest Conversation on minority homeownership

In this episode, Lloyd interviews a senior research associate in the Housing Finance Policy Center at the Urban Institute about the history and data behind minority homeownership.

Politics & Money

Brian Montgomery confirmed to officially serve as deputy secretary of HUD

FHA commissioner has served in role on interim basis since January 2019

After already working in the role for nearly 18 months, Brian Montgomery was officially confirmed by the Senate Tuesday to serve as the deputy secretary of the Department of Housing and Urban Development.

Montgomery, who also leads the Federal Housing Administration, has served as the second in command at HUD on an interim basis since January 2019 when Pam Patenaude stepped down as deputy secretary.

In October 2019, President Donald Trump nominated Montgomery to be the second in line behind HUD Secretary Ben Carson.

The Senate Banking Committee approved Montgomery’s nomination in December, but an official vote on the Senate floor wasn’t held until this week when the Senate approved the nomination by a 61-32 margin.

In his now official role as HUD deputy secretary, Montgomery leads the day-to-day operations at HUD.

“Brian has done an exemplary job both leading FHA and performing the additional duties of the Deputy Secretary since January 2019,” HUD Secretary Ben Carson said in a statement.

“During this unprecedented pandemic, he has been by my side every step of the way as we have implemented policies to protect Americans across the country. As the head of FHA, Brian has helped HUD relieve the burden on renters and homeowners experiencing financial hardship, and to ensure no one loses their home as a result of this national health and economic emergency,” Carson continued.

“The IT modernization effort underway at FHA under his stewardship has been central to our ability to continue to serve as a source of strength to the housing market,” Carson added. “I am thrilled that the Senate agrees that he will be an excellent Deputy Secretary. Congratulations to Brian and his family on his confirmation.”

Trump nominated Montgomery for his previous roles at HUD in September 2017 and the Senate confirmed him in May 2018.

That marked Montgomery’s second term 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.

And now, Montgomery is officially the no. 2 at HUD.

“I am honored to take on this new role, supporting the outstanding leadership of Secretary Carson during an extraordinary time for our country,” Montgomery said.

“We will continue to do everything possible to protect our country’s most vulnerable populations – including the homeless, the elderly, and many others with compromised health,” Montgomery added.

“We will provide critical support to low-income renters in public housing, seniors, people with disabilities and with AIDS, among others, including homeowners under stress at this time and those hoping to make it into a decent, safe, affordable home,” Montgomery concluded. “I am proud to help lead the Department and humbled to be able to offer all that I can to our endeavors, to deliver it more effectively, efficiently, and with the highest integrity on behalf of American taxpayers.”

Dana Wade is set to take over for Montgomery as FHA commissioner, pending a full Senate vote.

In February, the Trump administration nominated Wade to replace Montgomery at the FHA.

Like Montgomery, Wade would be in her second stint as FHA commissioner if she is approved. Wade previously was the acting federal housing commissioner and assistant secretary for housing from July 2017 to June 2018.

That period covered the time in between when Montgomery was nominated to serve as FHA commissioner and when he was approved.

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