Rumors Swirl Around FHA Nomination

The Federal Housing Administration may have a new leader in the coming days. Multiple sources are saying President Donald Trump is gearing up to nominate The Collingwood Group’s Brian Montgomery once he clears initial background checks.

Montgomery, currently Vice Chairman of the housing finance consulting firm The Collingwood Group, would bring with him decades of experience in the industry—and even four years at the post he’s being considered for. Montgomery served as FHA Commissioner from 2005 to 2009 under President George W. Bush and during the transition of the Obama administration.

He also served as Assistant Secretary of the Department of Housing and Urban Development (HUD) and as Deputy Assistant in the White House, advising President Bush and cabinet members on housing policy and reform. He has won several awards over the course of his career, including the Robert J. Corletta Award for Achievement in Affordable Housing—an award presented by the National Association of Home Builders and the Neighborhood Development Collaborative.

As FHA Commissioner, one Montgomery’s biggest accomplishments was The Modernization Bill, which aimed to increase borrowing flexibility for low- and moderate-income earners. He also contributed significantly to Hurricane Katrina recovery efforts, coordinating both temporary and long-term housing options for victims and chairing HUD’s Hurricane Recovery and Response Center.

Montgomery may be crucial in President Trump’s efforts in GSE reform. According to Politico, Montgomery “has raised concerns about the state of the housing market and regulation of mortgages.”

President Trump has not officially nominated Montgomery as of Wednesday. Should he do so, Montgomery would need to be confirmed by the Senate before assuming his role.

The potential FHA nomination isn’t the only thing that’s put Montgomery in the news lately. On May 3, D.C.-based advisory firm Situs announced it was acquiring The Collingwood Group, which Montgomery helped found in 2009 after resigning as commissioner.

Situs purchased the group to obtain “regulatory policy experience and insight across the residential housing and multifamily finance industry,” according to a release from the two companies.