Commissioner Montgomery Talks Future of FHA

On Tuesday, July 10, FHA Commissioner Brian Montgomery addressed the press during a limited media event hosted by HUD, according to an article in DSNews. Mr. Montgomery stated that updating FHA’s technology infrastructure would be a primary focus, saying “We are in fix-it mode,” and comparing the technological changes and updates needed at FHA with those already implemented by Fannie Mae and Freddie Mac. He also stated that working to fill the agency’s vacancies would be another near-term focus, saying, “We have a great core here and we just need to expand on that.” Finally, he said that working to expand homeownership among minorities, especially first-time borrowers, would be a priority, noting that “33 percent of first-time homebuyers who opt for FHA loans are minorities, and we plan to expand that number moving forward.”

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