Dana Wade the New FHA Commissioner

The Senate announced the replacement of the Federal Housing Administration commissioner Brian Montgomery will be Dana Wade. President Trump nominated Dana Wade this February. Wade previously was the acting FHA commissioner from July 2017 to June 2018 and then became the program associate director for general government at the Office of Management and Budget from December 2018 to December 2019.

“I believe that FHA has a duty to support the nation’s housing markets and homeowners facing economic hardship,” Wade said during her Senate testimony in May. “While the virus will pass and the economy will eventually regain its previous strength, the road to recovery will require our sustained effort.”

Her top priorities as the FHA commissioner “would include protecting current FHA homeowners and fully deploying FHA’s loss mitigation toolkit for COVID-affected homeowners; ensuring that FHA has the necessary staffing and other resources, as well as continuing the innovative FHA IT Modernization effort; and vigilantly monitoring risk to taxpayers of losses stemming from COVID-19 and protecting FHA’s capital reserve to the maximum extent possible.”

Wade was praised for her Senate testimony. HUD Secretary Ben Carson congratulated her for her confirmation and shared that he believes she “has been a tremendous asset to the Department and the Administration throughout her years of service, and I have full confidence in her ability to successfully lead FHA.”

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