Skip to main content

Ex-HUD Secretary Castro Ends Presidential Bid

Phil Hall
Jan 02, 2020
Photo credit: Getty Images/Bet_Noire

Former Housing and Urban Development (HUD) Secretary Julián Castro has announced the suspension of his campaign for the 2020 Democratic Party nomination for President.
 
In a video statement, Castro acknowledged that he was unable to muster the level of support needed to propel his effort forward.
 
“With only a month before the Iowa caucuses, and given the circumstances of this campaign season, I have determined that it simply isn’t our time,” Castro said. “So today it is with a heavy heart and profound gratitude that I will suspend my campaign for president.”
 
Castro served as mayor of San Antonio for five years before being tapped by President Barack Obama to become HUD Secretary in 2014. In 2016, he was touted as a potential running mate for Hillary Clinton, but was passed over in favor of Sen. Tim Kaine (D-VA). Castro was the sole Hispanic candidate in the Democratic field, but had problems with fundraising amid a crowded field of candidates.
 
Castro concluded his announcement with the Spanish-language phrase “ganaremos un día”–we will win one day.

 
The New URLA – What’s the Big Deal?

Lenders will need to update their technology stack to comply with the redesigned URLA.

Regulation and Compliance
Jun 14, 2021
Texas State Legislators Looks To Protect Reverse Mortgage Borrowers

A Texas House Bill has been introduced to prevent false, misleading or deceptive advertising by reverse mortgage lenders.

Reverse
Jun 02, 2021
Could Prudential Standards for Nonbank Mortgage Servicers be Eased?

From The Desk Of The “Om-Bobs-Man”

Regulation and Compliance
May 31, 2021
Get Ready to Duck and Cover

After years of hands-off attitude by regulators, a new wave of mortgage enforcement is building. Expect a tsunami.

Regulation and Compliance
May 13, 2021