Senate Holds Confirmation Hearing for FHA Commissioner Nominee

Senate Holds Confirmation Hearing for FHA Commissioner Nominee

Dana Wade, President Trump’s nominee to be the next Assistant Secretary for Housing/FHA Commissioner, testified at a confirmation hearing this week before the Senate Banking Committee.

It was one of the first hearings held by a Senate committee during the COVID-19 pandemic and followed guidelines developed in consultation with the Office of the Attending Physician (OAP), the Senate Sergeant at Arms and the Senate Rules Committee to protect the health of Members, witnesses and staff. This included maintaining six-foot social distance spacing in the hearing room and closing the hearing to the public. Several lawmakers attended via by video conference.

In her written testimony, Wade said her top priorities, if confirmed as the next FHA Commissioner, would include:

  • protecting current FHA homeowners and fully deploying FHA’s loss mitigation toolkit for COVID-affected homeowners;
  • ensuring that FHA has the necessary staffing and other resources, as well as continuing the innovative FHA IT Modernization effort; and
  • vigilantly monitoring risk to taxpayers of losses stemming from COVID-19 and protecting FHA’s capital reserve to the maximum extent possible.

“I believe that FHA has a duty to support the nation’s housing markets and homeowners

facing economic hardship,” testified Wade. “While the virus will pass and the economy will eventually regain its previous strength, the road to recovery will require our sustained effort.”

The Senate Banking Committee must now vote to confirm Wade’s nomination, as well as the nomination of current FHA Commissioner Brian Montgomery to be the next Deputy HUD Secretary. No date has been set for either vote.

Ms. Wade was previously the Acting FHA Commissioner from July 2017 to June 2018 and then she moved to the Office of Management and Budget.

Watch the confirmation hearing on C-SPAN at https://www.c-span.org/video/?471759-1/special-inspector-general-pandemic-recovery-confirmation-hearing