CREF Policy Update: President-elect Donald Trump Nominates Scott Turner as HUD Secretary; Scott Bessent as Treasury Secretary
President-elect Donald Trump Nominates Scott Turner as HUD Secretary; Scott Bessent as Treasury Secretary
Recently, President-elect Donald Trump announced the nomination of Scott Turner to serve as Secretary of the Department of Housing and Urban Development (HUD), and Scott Bessent as Treasury Secretary.
• Turner is a former professional football player and served as a Texas state representative from 2013-2017. He also served as Executive Director of the White House Opportunity and Revitalization Council in the first Trump administration, where, alongside former HUD Secretary Ben Carson, he was instrumental in implementing Opportunity Zones, an economic development incentive tool that allows people to invest in distressed areas.
• Bessent is a well-known Wall Street veteran who is the founder of hedge fund Key Square Capital Management. Prior to that, he served for many years as Chief Investment Officer at Soros Fund Management.
What they’re saying: In a press statement on Turner’s nomination, MBA President and CEO Bob Broeksmit, CMB, said, “On behalf of MBA, I congratulate Scott Turner on being nominated to serve as the next HUD Secretary. Pursuing policies and initiatives that help solve our nation’s housing affordability crisis for owners and renters should be a top policy priority under the Trump administration.”
What’s next: The Senate Banking, Housing, and Urban Affairs Committee will schedule and hold a confirmation hearing for Turner in early 2025. Scott Bessent will testify before both the Senate Banking Committee and the Senate Finance Committee, which shares jurisdiction for confirming the Treasury Secretary. MBA will push for a speedy confirmation process and is committed to working with the incoming administration and lawmakers on both sides of the aisle on all issues pertinent to real estate finance.
For more information, please contact Pete Mills at (202) 557- 2878 or Bill Killmer at (202) 557- 2736.
Upcoming MBA Education Webinars on Critical Industry Issues
MBA Education continues to deliver timely commercial/multifamily and single-family programming that covers the spectrum of challenges, obstacles and solutions pertaining to our industry. Below, please see a list of upcoming and recent webinars – all complimentary to MBA members:
• High Performance Negotiations – Lessons and Strategies – Dec. 17
• Managing Rising Insurance Risks in Commercial Lending – Jan. 14
• Fundamentals of Commercial Insurance Issues and Problems – Jan. 28
• CREF Career Conversations: Insights from Industry Leaders – Jan. 28
• Navigating and Ensuring Accurate Reporting with the MBA Commercial and Multifamily Inspection Form – Jan. 30
MBA members can register for any of the above events and view recent webinar recordings by clicking here.
For more information, please contact David Upbin at (202) 557-2931.
