MBA Asks Quick Confirmation of Montgomery as FHA Commissioner

The Mortgage Bankers Association asked Senate Banking Committee leadership to quickly move forward with Brian Montgomery’s nomination as FHA Commissioner, saying his experience will provide a “unique perspective” on housing and mortgage markets.

In a letter to Banking Committee Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, MBA President and CEO David Stevens, CMB urged the Committee to report Montgomery’s nomination so that the full Senate can consider him “as expeditiously as possible.”

“Mr. Montgomery’s prior service as FHA Commissioner, as well as his recent private sector experience, provide him with a unique perspective on the issues facing our nation’s housing and mortgage markets,” Stevens wrote. “This experience will serve him well during his second tour as FHA Commissioner, and we are confident that he will bring a deep commitment and focus to the FHA program areas most in need of his time and attention.”

Stevens noted FHA needs to address several critical management priorities, including enhancing efficiency and technology deployment, clarifying existing lender guidance and ensuring the long-term financial stability of the FHA program.

“Mr. Montgomery’s expertise on FHA and the housing market will help guide FHA to support production of affordable rental housing as well as the critical multifamily public-private partnership,” Stevens said. “We are eager to work with Mr. Montgomery once again as FHA Commissioner to achieve these goals.”

Montgomery is currently Vice Chairman of The Collingwood Group, Washington, D.C., an advisory firm focused on business consulting, risk management and compliance within the financial services industry. In addition to his previous stints at HUD, he served as Deputy Assistant to the President, and from 2003-2005, he directed the Office of Cabinet Affairs, serving as a liaison between President Bush and his Cabinet, and all federal agencies in the Executive Branch. He also assisted in HUD’s recovery and rebuilding efforts along the Gulf Coast and New Orleans following Hurricane Katrina and chaired HUD headquarters’ Hurricane Recovery and Response Center.