MBA Statement on Selection of Rep. Marcia L. Fudge as HUD Secretary Nominee
|Rob Van Raaphorst|
WASHINGTON, D.C. (December 10, 2020) - Robert D. Broeksmit, CMB, President & CEO of the Mortgage Bankers Association, issued the following statement on President-Elect Joe Biden's selection of Rep. Marcia L. Fudge as his nominee for Secretary of Housing and Urban Development (HUD):
"On behalf of MBA, I congratulate Rep. Marcia Fudge on being selected to be nominated as the Secretary of HUD. While the housing market has been one of the few economic bright spots during the pandemic, HUD will play a central role in addressing a number of important challenges in the post-pandemic recovery, including how to resolve the mortgage forbearance afforded to more than 800,000 borrowers who have loans insured by FHA. Also, the new administration will tackle the ongoing housing affordability crisis affecting both homeowners and renters. MBA and its members look forward to working with the administration and Rep. Fudge as she builds her team of housing experts who will manage these and other important issues at HUD, FHA, and Ginnie Mae."