After numerous contributions to the Home Equity Conversion Mortgage program as well as ongoing dialogue with industry members, Deputy Assistant Secretary of Single Family Housing Charles Coulter will leave his Department of Housing and Urban Development post this month.
Coulter, who has spoken on several occasions with this publication and has appeared at many National Reverse Mortgage Lenders Association events throughout his tenure at HUD, was integral in creating changes for reverse mortgages with an eye toward the longevity of the HECM program.
“During his tenure as Single Family DAS, Charles was instrumental in a number of policy and process changes that have resulted in a $15 billion improvement in the health of the MMI fund,” said housing Commissioner Carol Galante in a letter dated February 12. “Under Charles’ leadership, we have made significant progress toward development of a single, authoritative FHA policy guide and improved FHA’s partnership with key stakeholders on everything from policy development to quality control.”
Galante pointed further to Coulter’s specific contributions to the HECM program in her announcement of his departure fro HUD.
“Charles was also instrumental in key changes to the HECM program, putting that program on the right course to both protect the Fund and the interest of consumers, and placing it on a long-term sustainable trajectory,” she said.
Coulter will be succeeded by Kathleen Zadareky, who will step up into the deputy assistant secretary role following Coulter’s departure. Zadareky joined HUD in 2012 and brings 16 years of experience in the mortgage industry.
Written by Elizabeth Ecker
