Castro Begins HUD Confirmation Hearings

 

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Julian Castro should have no problem with securing  confirmation for  the position of Secretary of HUD.    For a more detailed look at this subject – please read the article below.

 

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San Antonio Mayor Julian Castro, the president’s pick to replace Shaun Donovan as secretary of HUD, appeared to breeze through his first nomination challenge Tuesday as he fielded questions from the Senate Banking Committee.

 

Appearing before the committee for his nomination hearing, Castro, whose work in San Antonio includes an initiative to spark private investment for the production of thousands of additional housing units in the city in 2014 alone, opened his testimony with reassurances that his leadership would have HUD focusing on “outcomes, not only inputs.”

 

“We shouldn’t just track projects and dollars spent. We must measure those investments by the impact they make,” he said.

 

Facing questions from the group of senators, Castro addressed the current stability and role of the Federal Housing Administration (FHA), which had to take a $1.7 billion bailout last year for the first time in its history as a result of losses suffered from mortgages insured as the housing market collapsed.

 

Noting that FHA’s financial position has improved as a result of changes adopted by the agency, Castro admitted “there can be action taken to ensure that the FHA stays on a positive track,” though he was non-specific regarding any plans.

 

In the wake of the housing and foreclosure crisis, the agency has drawn no small amount of fire from critics who say its standards have become too loose on loans it insures.

 

To read the complete article – please use the link below.

HUD Confirmation Hearings

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