“Mr. Montgomery’s long and comprehensive experience at HUD will greatly benefit the administration of the Department,” said the letter
, which cited Montgomery’s four-year experience with the housing crisis and response to Hurricane Katrina as Federal Housing Administration (FHA) Commissioner. “In his dual capacity as acting Deputy Secretary of HUD, he has overseen the increasingly sound financial health of the Mutual Mortgage Insurance Fund, which now has a 4.84 percent capital reserve ratio–more than double the level required by statute.”
Joining the NAR effort were the National Association of Hispanic Real Estate Professionals (NARHREP), National Reverse Mortgage Lenders Association (NRMLA), National Association of Home Builders (NAHB), American Land Title Association (ALTA) and the Mortgage Bankers Association (MBA), among others.