Brian Montgomery Confirmed as FHA Commissioner

On May 22, the U.S. Senate confirmed Brian Montgomery to lead the Federal Housing Administration (FHA). This will be Montgomery’s second time serving as FHA commissioner. He previously held the job under President George W. Bush and stayed on for six months after President Barack Obama’s inauguration.

The FHA provides mortgage insurance on loans made by FHA-approved lenders. As a result, lenders bear less risk because FHA will pay a claim to the lender in the event of a default. FHA currently has 7.95 million insured single family mortgages and 14,452 insured multifamily projects in its portfolio.

Commissioner Montgomery has also served as HUD assistant secretary of Housing and other positions throughout government and housing industry,  including co-founder and partner at the Collingwood Group, deputy assistant to the president and cabinet secretary, board member on the Federal Housing Finance Board, the Housing and Economic Recovery Act of 2008 Oversight Board, and NeighborWorks America Board.