Secretary of Housing and Urban Development

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Secretary of Housing and Urban Development

The head of the U.S. federal government department charged with promoting homeownership. He or she oversees the Federal Housing Administration and has a relationship with Fannie Mae and Freddie Mac. The secretary also provides vouchers to make rent more affordable and provides grants for community development. He or she is appointed by the president of the United States and confirmed by the Senate.
References in periodicals archive ?
Recommendation: In order to better promote green building practices, the Secretary of HUD should direct the appropriate program offices to proactively work with Department of Energy (DOE) to expeditiously implement energy-efficiency updates to the HUD Manufactured Housing Code.
The Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mae) will significantly increase the amount of business they generate for affordable housing if a new rule proposed by the Secretary of HUD goes into effect.
Montgomery as the new commissioner of the FHA and assistant secretary of HUD.
He has targeted CRA and fair housing as two principle areas of concern he will pursue as secretary of HUD.
Kemp, former Secretary of HUD, congressman and vice presidential nominee.
The Secretary of HUD would designate 6 urban empowerment zones and 65 enterprise communities; the Secretary of Agriculture would designate three rural zones and 30 enterprise communities.
Riegle said the Committee would 'be writing to President-elect Clinton to suggest that the leader of such a coordinated effort be the Secretary of HUD.
These include: rolling back the Ginnie Mae guaranty fee increase, slated to go into effect in fiscal year 2004; permanently extending the FHA streamlined down payment formula; eliminating the cap on FHA 5/1 adjustable-rate mortgages (ARMs); setting a uniform national loan limit for FHA reverse mortgages for seniors; indexing FHA multifamily mortgage limits each year to the annual construction cost indexes of the Bureau of the Census; and addressing future cost increases in high-cost areas by increasing the maximum high-cost multiplier or percentage for FHA multifamily loans from 110 percent to 140 percent of the base, with discretion given to the secretary of HUD to increase the percentage to 170 percent on a project-by-project basis.
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