Investor Update
May 12, 2020
Source: HUD
WASHINGTON – U.S. Department of Housing and Urban Development Secretary Ben Carson today applauded the confirmation of Brian D. Montgomery to serve as Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD). As the second most senior official at HUD, Mr. Montgomery will manage the day-to-day operations of the agency and will advise and assist the Secretary in leading the Department’s nearly 8,000 employees.
“Brian has done an exemplary job both leading FHA and performing the additional duties of the Deputy Secretary since January 2019. During this unprecedented pandemic, he has been by my side every step of the way as we have implemented policies to protect Americans across the country. As the head of FHA, Brian has helped HUD relieve the burden on renters and homeowners experiencing financial hardship, and to ensure no one loses their home as a result of this national health and economic emergency.” Secretary Carson said. “The IT modernization effort underway at FHA under his stewardship has been central to our ability to continue to serve as a source of strength to the housing market. I am thrilled that the Senate agrees that he will be an excellent Deputy Secretary. Congratulations to Brian and his family on his confirmation.”
As Federal Housing Commissioner since June 2018, Brian Montgomery has managed FHA’s more than $1.4 trillion mortgage insurance portfolio, which includes its Single Family, Multifamily, and Health Care programs. As Assistant Secretary for Housing, he has overseen HUD’s Project-based Section 8 rental assistance housing program, the Office of Housing Counseling, and HUD’s Manufactured Housing Program.
“I am honored to take on this new role, supporting the outstanding leadership of Secretary Carson during an extraordinary time for our country. We will continue to do everything possible to protect our country’s most vulnerable populations – including the homeless, the elderly, and many others with compromised health. We will provide critical support to low-income renters in public housing, seniors, people with disabilities and with AIDS, among others, including homeowners under stress at this time and those hoping to make it into a decent, safe, affordable home,“ Montgomery said. “I am proud to help lead the Department and humbled to be able to offer all that I can to our endeavors, to deliver it more effectively, efficiently, and with the highest integrity on behalf of American taxpayers.”
With over 30 years of experience in the public and private sectors, Mr. Montgomery brings to HUD a deep knowledge of housing issues and vast experience spearheading large-scale policy initiatives. During his first term as HUD’s Assistant Secretary for Housing and FHA Commissioner, he spearheaded regulatory reform of the Real Estate Settlement Procedures Act (RESPA), developing solutions to assist struggling homeowners during the financial crisis, and his leadership of FHA modernization efforts that led to legislation in 2008.
From January 2003 until April 2005, Mr. Montgomery served in the Executive Office of the President as Deputy Assistant to the President and Cabinet Secretary. In this role, he led the White House’s internal working group to monitor all facets of the Space Shuttle Columbia accident investigation for which he was awarded the NASA Exceptional Service Medal. Mr. Montgomery also served as Deputy Assistant to the President and Director of Presidential Advance from January 2001 until January 2003. During his time as Director of Presidential Advance he traveled extensively with President Bush, including on September 11, 2001.
