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  • 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

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