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Industry Reacts: Federal Housing Commissioner Nominee Advanced

Leaders within the housing are applauding the advancement of Dana T. Wade’s nomination as the next Assistant Secretary of the Department of Housing and Urban Development. 

“Her past experience and tenure as Acting Federal Housing Commissioner and General Deputy Assistant Secretary for the Office of Housing will allow her to hit the ground running,” said Ed Demarco, President, Housing Policy Council. 

He added that upon full Senate confirmation, Wade is expected to continue the “important enhancements” enabling FHA and mortgage servicers to continue servicing borrowers through COVID-19. 

The Manufactured Housing Association for Regulatory Reform (MHARR) sent a letter to the Senate Banking Committee pledging its support of Wade.

"Ms. Wade—who has a wealth of experience regarding housing and housing finance—showed herself to be a strong advocate for affordable housing, including affordable manufactured housing, during her prior tenure at HUD," the letter stated. "Commendably, Ms. Wade was always available to hear the concerns of both the industry and consumers of affordable housing and took key actions to modernize the federal manufactured housing program at HUD and bring it more closely into compliance with the Manufactured Housing Improvement Act of 2000, after nearly two decades of needless delay."

The letter continued by saying Wade is a "tireless advocate for safe, decent, quality, and affordable housing."

"Particularly given the urgent national need for affordable housing and homeownership that exists today, she would be an important and worthy addition to the management team at HUD.  Consequently, MHARR strongly supports her nomination and urges the Committee to recommend her for confirmation by the full Senate," the letter said.

The U.S. Senate Banking Committee advanced Wade’s during a hearing on Tuesday. Wade was advanced by a 15-10 vote by the committee. 

“Mrs. Wade is well-positioned to take on the task of Assistant Secretary for Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Development,” said  U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee. “Mrs. Wade served as Acting Federal Housing Commissioner and General Deputy Assistant Secretary for the Office of Housing, where she directly managed FHA’s portfolio of single-family, multifamily and healthcare insurance; Section 8 project-based rental assistance; the Office of Manufactured Housing; and over 2,400 personnel agency-wide.”

Wade was nominated for the position of Federal Housing Commissioner by President Donald Trump in February. 

“As I look around this hearing room, I see the Senate continuing the people’s work but under very different circumstances,” Wade said during her opening statement at her confirmation hearing earlier this month. “If confirmed, I will commit to do everything I can as FHA Commissioner to help the country emerge from the COVID-19 pandemic healthier, stronger, and with a more prosperous economy.”

Wade was previously the acting Federal Housing Commissioner and Assistant Secretary for Housing from July 2017 to June 2018. She supervised more than 2,400 employees and implemented risk management and monitoring of the Federal Housing Agency’s $1.3 trillion portfolios.

She also served as a Program Associate Director for General Government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six Executive Branch agencies with a focus on financial services, including HUD.

About Author: Mike Albanese

A graduate of the University of Alabama, Mike Albanese has worked for news publications since 2011 in Texas and Colorado. He has built a portfolio of more than 1,000 articles, covering city government, police and crime, business, sports, and is experienced in crafting engaging features and enterprise pieces. He spent time as the sports editor for the "Pilot Point Post-Signal," and has covered the DFW Metroplex for several years. He has also assisted with sports coverage and editing duties with the "Dallas Morning News" and "Denton Record-Chronicle" over the past several years.
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