• CMG MORTGAGE, INC. NMLS #1820
  • Cindy MacDonell
  • News
  • Meet the Incoming Secretary of the Department of Housing and Urban Development

Meet the Incoming Secretary of the Department of Housing and Urban Development

  • November 29, 2016

The Secretary of the Department of Housing and Urban Development is a member of the president’s cabinet and leads the US Department of Housing and Urban Development.  HUD’s Secretary is expected to execute the mission to “increase homeownership, support community development and increase access to affordable housing free from discrimination.”  This position directly influences the housing industry and is currently held by Julian Castro.

When President-elect Trump takes office in January, he will elect a new HUD Secretary.  There has been speculation in the last week of who will fill the role.  Sources close to Former GOP presidential candidate and retired neurosurgeon Dr. Ben Carson have confirmed to HousingWire that he will “officially accept the role.”

Since the 2008 housing crisis, the HUD secretary position has been in the spotlight.  Under President Obama’s administration, Secretary Shaun Donovan oversaw approximately $14 billion in stimulus funds from the American Recovery and Reinvestment Act.

The HUD secretary also oversees programs that administer mortgage insurance and rental subsidies to lower-income families.  Dr. Carson has said, “our inner cities are in terrible shape and they definitely need some attention. [...] it certainly is something that has been a long-term interest of mine.”

The pending nomination still must be confirmed by the Senate. 

 

Sources: HUD.gov, Detroit Free Press, HousingWire, CNN 

Cindy MacDonell
Senior Loan Officer
NMLS # 316198
Branch NMLS # 1270689

Cindy MacDonell

PHONE: (707) 781-8185
cmacdonell@cmgfi.com

APPLY NOW
© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal opportunity lender with corporate office located at 3160 Crow Canyon Road, Suite 400, San Ramon, CA 94583 888-264-4663. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Illinois Residential Mortgage Licensee; Kansas Licensed Mortgage Company #MC.0001160; Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; and Licensed by the Virginia State Corporation Commission #MC-5521. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. For information about our company, please visit us at www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and NMLS Consumer Access (www.nmlsconsumeraccess.org).