Administration Nominates Montgomery as FHA Commissioner
The Trump Administration’s nominee for Federal Housing Commissioner is a familiar face to the housing industry and members of the Mortgage Bankers Association.
The Administration yesterday nominated Brian Montgomery to be an Assistant Secretary of Housing and Urban Development and Federal Housing Commissioner. If confirmed by the Senate, it would be Montgomery’s second go-around as FHA Commissioner–he previously served in that capacity during the George W. Bush Administration and also served as acting HUD Secretary during the transition between the Bush and Obama Administrations.
MBA President and CEO David Stevens, CMB, who served as FHA Commissioner from 2009-2011, issued a statement of support and urged the Senate to move quickly with Montgomery’s nomination.
“His previous experience will serve him well in this position,” Stevens said. “I hope the Senate will move quickly to confirm Brian and we look forward to working with him, Secretary Carson, and others in the Administration to ensure a strong, robust FHA program that can serve its mission of providing affordable housing opportunities, both rental and owned, for all Americans, especially those with low and moderate incomes and first-time homebuyers.”
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.
“Under his leadership as FHA Commissioner, FHA successfully spearheaded legislative efforts to preserve the nation’s affordable rental housing stock by maintaining the long-term physical and financial integrity of properties, while reducing rental assistance costs and the cost of FHA insurance claims,” the White House said in a statement. “FHA provided access to affordable financing to preserve, refinance, or develop more than 300,000 rental units, a portion through risk-sharing agreements with state and local housing finance agencies.”
Montgomery’s nomination is subject to Senate approval; the Senate Banking Committee is expected to announce a nomination hearing shortly.
