In a 74 to 23 vote earlier today, the Senate approved FHA Administration Commissioner Brian Montgomery six months after the Senate Banking, Housing and Urban Affairs Committee approved his nomination.
Mr. Montgomery previously served as FHA Commissioner under President George W. Bush and President Barack Obama. In addition, Mr. Montgomery has served on the Federal Housing Finance Board, the Housing and Economic Recovery Act oversight board and the NeighborWorks American board.
FHA @SecretaryCarson tweeted his congratulations and NAR President Elizabeth Mendenhall released the following statement shortly after the confirmation vote:
Brian Montgomery served as Federal Housing Administration commissioner during one of the most critical periods in the history of America’s housing industry. He has shown the ability to lead and understands the essential role the FHA plays in addressing affordability and facilitating homeownership in the U.S., particularly for first-time home buyers.
Realtors® congratulate Commissioner Montgomery on his confirmation and look forward to working with his FHA to make the dream of homeownership a reality for millions of additional Americans.
HUD Santa Ana visited WeMAR several weeks ago and confirmed there were several regulatory rule changes awaiting final approval and unable to be released until a FHA Commissioner was approved. We should start to see those needed rule changes being approved and rolled out to the market place within a few weeks.