MBA Statements on Nominations of Scott Turner as HUD Secretary; Bill Pulte as FHFA Director
The Mortgage Bankers Association and more than 20 other trade associations wrote to the Senate Banking Committee to express support for Scott Turner to serve as the next Secretary of HUD.
MBA’s President and CEO Bob Broeksmit, CMB, also issued a statement congratulating Bill Pulte on being nominated to be Director of the Federal Housing Finance Agency.
MBA, the American Land Title Association, the National Apartment Association, National Association of Home Builders, the National Housing Conference and others urged the Senate Committee on Banking, Housing, and Urban Affairs to approve Turner’s nomination and send it to the Senate floor as quickly as possible.
“Mr. Turner possesses an impressive background in both housing and community development,” the letter said. “During the first Trump administration, he served as the executive director of the White House Opportunity and Revitalization Council. In that role, he was charged with coordinating federal resources in Opportunity Zones and other distressed communities. In the private sector, Mr. Turner has been a senior executive at a national multifamily housing developer.”
HUD is poised to play a crucial role in addressing our nation’s housing shortage and ensuring all Americans have access to safe, decent, and affordable homes, the affiliated organizations told the Senate committee. “Mr. Turner understands the value of strengthening public-private partnerships and collaborating with stakeholders to expand the supply of housing. Equally important, he is passionate about the need to target investment to traditionally underserved communities.”
Turner’s blend of experience in both the public and private sectors will equip him well to lead HUD for the next four years, the letter said.
Broeksmit said MBA looks forward to working with Pulte and the FHFA staff on policies and programs that boost housing supply and create affordable opportunities for our nation’s homebuyers and renters while protecting taxpayers and ensuring a robust secondary mortgage market and Federal Home Loan Bank system for single-family and multifamily lenders.
“The conservatorship of Fannie Mae and Freddie Mac (GSEs) was never intended to be permanent,” Broeksmit noted. “MBA stands ready to work with the Administration and Congress to ensure that the transition to a post-conservatorship era for the GSEs is done the right way, including the critical step that Congress approves an explicit federal backstop for the GSEs’ mortgage-backed securities, to prevent severe market disruptions.”
