Carson Assures Housing Support Despite Proposed Cuts

Mar 17, 2017

U.S. Department of Housing & Urban Development (HUD) Secretary Dr. Ben Carson has a message for the mortgage industry: The Department does not want to be seen as a trigger-happy enforcer.

Although the Trump Administration’s new budget blueprint calls for $6.2 billion in cuts to the Department of Housing and Urban Development (HUD) operating costs, the new housing chief is stating that this should not be seen as the end of certain programs.

According to a Detroit Free Press report, HUD Secretary Dr. Ben Carson told attendees at the dedication of a Detroit senior housing complex that some of his department’s programs are not destined for extinction.

"I think that programs that are working extremely well will continue to be supported," Dr. Carson said. "We will find different ways to make sure they are supported."

Carson, who is a Detroit native, pointed to local residential projects that were developed in partnerships with the faith-based community and the private sector. He added that inefficiencies in federal programs cannot be ignored, but he insisted that Washington is not turning its back on the public.

"I would forget the numbers and think about the concept," Dr. Carson said. "The concept is we're going to take care of our people."

However, Detroit Mayor Mike Duggan expressed concern that deep cuts to the HUD budget—the White House proposed a 13 percent decrease—would have a negative impact on his city.

"The budget as proposed would be devastating," Duggan said. “It’s clear to me that the secretary is paying close attention and is listening and hopefully will become an advocate for us.”

About the author

Phil Hall

Link copied

Published

Mar 17, 2017

Military Lending

MISMO, VA Push To Digitize Veteran Loan Eligibility Process

New data standards aim to streamline Certificate of Eligibility requests, reduce manual processing and speed VA loan originations

MISMO has released new standardized data mappings designed to help lenders process VA loan eligibility requests more efficiently as part of the U.S. Department of Veterans Affairs' ongoing digital transformation of its Loan Guaranty program.Developed in collaboration with th...

Non-QM

Untapped Home Equity Creates Opportunity For Alternative-Doc HELOCs

New Home Equity Gap Index estimates U.S. homeowners hold $11 trillion in available equity as some Non-QM lenders expand options for self-employed borrowers

A new Home Equity Gap Index suggests that billions of dollars in home equity remain largely untapped, creating an opportunity for Non-QM lenders offering alternative-documentation HELOCs to borrowers who may not qualify under traditional underwriting.According to The Mortgag...

Sep

San Francisco, CA

More from

Industry News

President Trump Cancels 21st Century ROAD To Housing Act

Trump cancels signing the bipartisan housing bill, leaving affordability package in limbo

Industry News

Jun 24, 2026

Commercial, Multifamily Mortgage Debt Tops $5 Trillion In Q1

MBA says outstanding debt grew by $26.3 billion in the first quarter, led by multifamily lending and increased holdings from banks, agencies, and life insurers

Industry News

Jun 18, 2026

Fed Holds Rates Steady, But Outlook Dims For Mortgage Rate Relief

The Federal Reserve left rates unchanged but updated projections show more policymakers expecting additional hikes

Industry News

Jun 18, 2026

Congress Nears Final Vote On 21st Century ROAD to Housing Act

Senate voted 87-8 to advance House-amended package, with final votes expected in coming days

Industry News

Jun 17, 2026

Florida Pending Sales Signal Strong Summer Housing Market

Closed sales rise for a ninth straight month as inventory gives buyers more negotiating power