HUD Secretary Marcia Fudge Announces Forthcoming Resignation
Earlier today, US Department of Housing and Urban Development Secretary Marcia Fudge, a former mayor and member of Congress, announced her forthcoming resignation, set to take effect March 22.
In her announcement, Secretary Fudge, who's held the position for three years, highlighted specific achievements of her tenure that included the Department's efforts to help families avoid foreclosure, the removal of certain student loan-related barriers to homeownership, the incorporation of rental histories into the home loan qualification process, an increase of access to homeownership for minority communities, and the reduction of insurance premiums for FHA mortgages.
Responses to Fudge's announcement came from throughout the nation and housing industry.
President Biden issued a statement celebrating the work the Secretary's done not only in her current role at HUD but throughout her career.
"On Day One, Marcia got to work rebuilding the Department of Housing and Urban Development, and over the past three years she has been a strong voice for expanding efforts to build generational wealth through homeownership and lowering costs and promoting fairness for America’s renters," the President wrote. He added, "From her time as a mayor, to her years as a fierce advocate in the U.S. House of Representatives, Marcia’s vision, passion, and focus on increasing economic opportunity have been assets to our country."
The Congressional Black Caucus, for which Fudge once served as chairperson, released a statement applauding Fudge's accomplishments in improving access to homeownership for the Black community.
"Since her confirmation in March of 2021, Secretary Fudge has worked tirelessly to provide access to safe and affordable housing to millions of American families, with a particular focus on racial equity and addressing the gap in Black homeownership," the statement read. "Under her leadership, the agency has supported nearly a quarter of a million Black people in purchasing a home and has taken significant steps to root out racial bias in the home appraisal process."
And the National Association of Home Builders published a statement from Chairman Carl Harris, a custom home builder, that thanked the Secretary for her service.
“NAHB commends Sec. Fudge for her strong commitment to housing and we wish her well in her upcoming retirement," Harris' statement reads. "NAHB has enjoyed a productive relationship with Sec. Fudge as we have worked together toward our mutual goal to seek affordable homeownership and rental housing opportunities for hardworking American families. We look forward to working with the current leadership at HUD and Sec. Fudge’s successor to enact policies that will boost the supply of affordable housing and keep the housing industry and economy moving forward.”
While President Biden has yet to announce who he intends to nominate as Fudge's eventual replacement, the White House did say that Deputy Secretary Adrianne Todman will serve as Acting Secretary immediately following her departure.