Monthly Archives: October 2016

Ready for the coming increase in households

It’s official — Ben Carson accepted President-elect Donald Trump’s offer to become the next secretary of the U.S. Department of Housing and Urban Development.

For HousingWire readers, this news isn’t surprising since we exclusively reported Carson’s intention to accept the nomination last week.

Although many expected Carson to announce his acceptance after the Thanksgiving holiday, a week passed in silence. In the meantime, other appointments were made, including Quicken Loans executive vice president Shawn Krause, who was named to the HUD transition team.

Whatever the reason, there’s no further room for speculation. Trump officially offered, and Carson accepted, the new role as HUD secretary. Now the only thing standing in Carson’s way is approval from Congress.

“I am thrilled to nominate Dr. Ben Carson as our next Secretary of the U.S. Department of Housing and Urban Development,” Trump said. “Ben Carson has a brilliant mind and is passionate about strengthening communities and families within those communities.”

“We have talked at length about my urban renewal agenda and our message of economic revival, very much including our inner cities,” he said. “Ben shares my optimism about the future of our country and is part of ensuring that this is a Presidency representing all Americans. He is a tough competitor and never gives up.”

Trump’s team also put out an official statement on the President-elect’s Facebook page.

From the post:

President-Elect Donald J. Trump Intends to Nominate Dr. Ben Carson as Secretary of the United States Department of Housing and Urban Development.

“I am honored to accept the opportunity to serve our country in the Trump administration,” Carson said. “I feel that I can make a significant contribution particularly by strengthening communities that are most in need. We have much work to do in enhancing every aspect of our nation and ensuring that our nation’s housing needs are met.”

As far as the housing industry, reactions to Carson’s nomination vary wildly. Many are confused about Carson’s nomination to HUD, given his background as a neurosurgeon, and some even go as far as to say this nomination proves the new administration doesn’t care about housing.

On the other hand, as HousingWire’s Brena Swanson explains here, his nomination has certainly put the public’s attention on the position.

Lead House Financial Services Committee again

Hensarling currently serves as chairman of the House Financial Services Committee, and will serve his third term in that role beginning in January.

In his time as the chairman of the House Financial Services Committee, especially in his most recent term, Hensarling pushed for regulatory rollback.

Earlier this year, Hensarling introduced a bill in the House that would replace the Dodd-Frank Wall Street Reform Act with a “pro-growth, pro-consumer” alternative that would bring significant reforms to the Consumer Financial Protection Bureau, and much more.

The bill, called the Financial CHOICE act, passed out of the House Financial Services Committee in September.

The bill looks to gain traction in the next Congress, as President-elect Donald Trump is already signaling that his administration plans to “dismantle” Dodd-Frank.

Recently, at the Housing America’s Families Forum hosted by the J. Ronald Terwilliger Foundation for Housing America’s Families, Hensarling called Dodd-Frank a “grave mistake” and said Republicans will work to repeal it in 2017.

“I am humbled by the support and trust of my colleagues to continue my service as chairman of the Financial Services Committee,” Hensarling said of his upcoming term.

“In the coming Congress, we will continue our important work of helping to grow the economy for all Americans, not just those at the top,” Hensarling continued.

“We will focus on ending taxpayer-funded bailouts and too big to fail. We will work to hold both Wall Street and Washington accountable, because consumers must be vigorously protected from fraud as well as the loss of their economic liberty,” Hensarling concluded. “As chairman, I look forward to working with the incoming Trump Administration to advance bold and ambitious solutions that will help make America better, stronger and more prosperous.”

Fighting Hensarling at every step of the way when it comes to dismantling Dodd-Frank will be Waters, who was recently re-elected unanimously by the Democratic Caucus to serve as Ranking Member of the House Financial Services Committee.

It will be Waters’ third term as Ranking Member.

“I am honored to have been re-elected to lead the House Financial Services Committee in the 115th Congress,” Waters said.

“We face many challenges in the years ahead, with President-elect Trump threatening to dismantle Dodd-Frank, putting our financial stability and consumer protections at risk,” Waters continued. “It is more important now than ever for Democrats to fight for what they believe in, and I will continue to lead that fight for American consumers and our most vulnerable populations.”