Senate Confirms Dana Wade as FHA Commissioner

July 29, 2020

Dana Wade, FHA Commissioner

Dana Wade, FHA Commissioner

The Senate on Tuesday confirmed Dana Wade to serve as the Federal Housing Administration’s commissioner.

“I’m extremely grateful for this opportunity to hit the ground running during this critical time for our nation’s housing markets,” Wade said in a statement following the confirmation.

During a Senate confirmation committee hearing in May, Wade told lawmakers her priorities would be to protect current FHA homeowners and to  fully deploy the FHA’s loss mitigation toolkit for homeowners affected by the COVID-19 pandemic. She also said she would vigilantly monitor risk to taxpayers of losses stemming from the pandemic and protect FHA’s capital reserve to the highest extent that is possible.

“I believe that FHA has a duty to support the nation’s housing markets and homeowners facing economic hardship,” Wade had said at the confirmation hearing. “While the virus will pass and the economy will eventually regain its previous strength, the road to recovery will require our sustained effort.”

Wade served as the acting FHA commissioner from July 2017 to June 2018. She was nominated in February by the Trump administration to replace Brian Montgomery, who is now serving as deputy secretary of the Department of Housing and Urban Development.

Source: 
Senate Confirms Wade as FHA Commissioner,” American Banker (July 28, 2020)