Statement from HUD Secretary Marcia L. Fudge
Industry Update
March 11, 2024
Source: U.S. Department of Housing and Urban Development
Today, Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development (HUD) issued the following statement:
“As a dedicated public servant for nearly five decades, I have been devoted to improving the quality of life for the people of this nation, focusing on those with the greatest need. Having worked at every level of government, including as a mayor, then as a congressional staffer, a member of Congress, and now as the 18th Secretary of the U.S. Department of Housing and Urban Development I have worked tirelessly to ensure that America lives up to its promise of liberty and justice for all.
It has always been my belief that government can and should work for the people. For the last three years, I have fully embraced HUD’s mission to create strong, sustainable, inclusive communities and quality affordable homes for all. The people HUD serves are those who are often left out and left behind. These are my people. They serve as my motivation for everything we have been able to accomplish.
For that reason, it is with mixed emotions that I announce my resignation effective March 22, 2024.
During my tenure, we:
- Helped more than two million families stay in their homes and avoid foreclosure;
- Removed barriers for people with student loan debt trying to buy a home with an FHA mortgage;
- Ensured that positive rental history plays a greater role in determining creditworthiness when trying to obtain a home loan;
- Outpaced the market by insuring FHA mortgages for three times as many Black borrowers and twice as many Hispanic borrowers based on percentage of volume; and
- Made mortgages more affordable by reducing the mortgage insurance premium for FHA mortgages.
Under my leadership, we have also:
- Funded more than 2 million units of public housing and multifamily housing;
- Spent more than 20% of HUD’s procurement dollars with Black, Brown, and other small, disadvantaged businesses in the last year alone, totaling $500 million;
- Ensuring that people who have paid their debt to society can get a fair shot at a second chance and have a home;
- Served or permanently housed more than 1.2 million people experiencing homelessness; and
- Enforced Fair Housing laws and took a stance against racial bias and discrimination in the appraisal market.
I thank President Biden for his confidence and trust in me to lead HUD in alignment with the Biden-Harris Administration priorities. As I transition to life as a private citizen, I will continue to do the work that I have been called to do.”
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