MBA, Trade Groups Urge Senate Confirmation of Julia Gordon as FHA Commissioner

The Mortgage Bankers Association and nearly three dozen industry trade groups sent a letter to Senate leadership urging confirmation of Julia Gordon as HUD Assistant Secretary for Housing and Commissioner of the Federal Housing Administration.

“We believe Ms. Gordon is highly qualified for this important position,” the letter said.

President Biden nominated Gordon on June 24. She is currently president of the National Community Stabilization Trust, a nonprofit organization that supports neighborhood revitalization and affordable homeownership through rehabilitation of residential properties in underserved markets. In addition to managing NCST’s programmatic work, she specializes in federal policy related to homeownership, community development and the nation’s housing finance system.

The letter noted FHA faces challenges and opportunities to finance home ownership and rental housing at a critical time. Most immediately, the letter said, many households, rental property owners, and communities are struggling to recover from economic disruptions caused by the Covid-19 pandemic. In the longer run, rising home prices and rents and supply shortages are making housing less affordable for middle- and lower-income families, including renters and first-time home buyers.

“FHA has an important role in addressing these challenges, consistent with responsible lending practices and maintaining healthy insurance fund reserves. Julia Gordon brings deep experience to address these challenges. She is a seasoned housing finance policy maker, having served as Single-Family Policy Manager at the Federal Housing Finance Agency. Through her leadership of the National Community Stabilization Trust, she has a nuanced understanding of local housing markets and how they can function sustainably even when under stress. She also has the skills, experience and relationships to bring people together, both within FHA and among stakeholders, to address challenges collaboratively and effectively.

The letter follows up on a separate MBA July 1 letter in which MBA President & CEO Robert Broeksmit, CMB said Gordon’s experience will serve her well at FHA.

It remains uncertain when the Senate will take up Gordon’s nomination.