Senate Confirms Yellen as Treasury Secretary

The Senate on Monday confirmed Janet Yellen as Treasury Secretary by an 84-15 vote.

Yellen becomes the third Biden Administration Cabinet nominee to earn Senate approval. Her nomination was unanimously approved last week by the Senate Finance Committee.

Mortgage Bankers Association President and CEO Bob Broeksmit, CMB, issued the following statement:

“MBA is heartened by the broad, bipartisan support Janet Yellen received to be the next Treasury Secretary and congratulates her on her confirmation. Our members are focused on several key issues she will have the opportunity to address that will have a significant impact on our nation’s real estate finance market.

“Specifically, these include working with key stakeholders to support the implementation of effective rent and mortgage payment assistance and the expansion of minority homeownership. It is also critical that the Secretary works with Congress, the Federal Housing Finance Agency, and other key stakeholders to fashion legislative reforms that promote a robust secondary mortgage market and provide long-term certainty and stability to all housing finance system participants.

“MBA looks forward to working with Treasury Secretary Yellen, the Biden administration, and Congress to strengthen the single-family, multifamily, and commercial mortgage segments, to ensure deep and liquid markets for affordable real estate finance through all economic cycles.”