Brian D. Montgomery
Encyclopedia
Brian D. Montgomery is the former Assistant Secretary for Housing and Federal Housing Commissioner, within the United States Department of Housing and Urban Development
. He was confirmed to the position in February 2005, and resigned in July 2009. He is now a partner at the Collingwood Group, LLC, a business consulting firm.
and the government sponsored enterprises.
Following the Space Shuttle Columbia disaster
in February 2003, Mr. Montgomery headed up a White House working group to monitor all facets of the accident investigation. This ultimately led to the process that developed the President's vision for space exploration. For this effort, Mr. Montgomery was awarded the NASA Exceptional Service Medal
in June 2004.
. The Modernization Bill, which passed the House of Representatives in July 2006, is primarily focused on increasing borrower flexibility through both policy and programmatic changes. Included among them are increased loan limits, updated down payment assistance options, and a risk-based premium structure. The goal of the Modernization Bill was to provide low and moderate-income borrowers a safe homeownership option at a fair price.
Another one of Assistant Secretary Montgomery's priorities while at the Department of Housing and Urban Development was the preservation of affordable multifamily rental housing, achieved primarily through mortgage insurance as well as flexible refinancing options. During Assistant Secretary Montgomery's tenure, HUD went to great lengths to get legislation passed in the House of Representatives that would preserve more than 900 apartment complexes, allowing for 87,000 additional units of affordable housing.
Brian Montgomery's time at the Department of Housing and Urban Development has also been marked by extensive work with Hurricane Katrina
disaster victims. He chaired the Department of Housing and Urban Development's Hurricane Recovery and Response Center at Headquarters and helped coordinate and secure temporary and long-term housing for displaced persons.
During Brian Montgomery's tenure as Federal Housing Commissioner, the Department of Housing and Urban Development also launched a campaign meant to educate African-Americans looking to buy their first homes. He was interviewed by National Public Radio on the subject.
Secretary Montgomery is the 2008 recipient of the Robert J. Corletta Award for Achievement in Affordable Housing. The Corletta Award, presented annually by the National Association of Home Builders (NAHB) and the Neighborhood Development Collaborative (NDC), pays tribute to individuals who have shown extraordinary creativity and dedication to the cause of affordable housing.
In bestowing the award to the Commissioner, the housing groups cited in particular his efforts to keep FHA programs viable for the production and rehabilitation of rental apartments that low and moderate income households can afford.
"Given the current difficulties in the mortgage markets, FHA programs are more important than ever, and Brian has played a critical role in ensuring that these programs support the creation of affordable housing for America's working families," said Bob Nielsen, NAHB vice president/secretary and a home builder from Reno, Nev. Nielsen presented the award to the commissioner during NAHB's Spring Board of Directors' Meeting held here last week.
Nielsen noted that the Commissioner listened to the concerns of NAHB and other industry groups when the Administration last year proposed increasing the mortgage insurance premiums on certain FHA programs—Sec. 221(d)(4) and others—by as much as 16 basis points. After reviewing NAHB's economic data and analysis showing the tremendous effects such a dramatic increase would have on the renters in those programs—overwhelmingly those with incomes at 60 to 80 percent of an area's median—the Commissioner supported holding the line on those premiums. In January, HUD announced that it would not implement the increase.
"Brian Montgomery's support on this critical issue is right in line with the legacy of Bob Corletta, who believed that all citizens, whatever their financial circumstances, deserve a home that is affordable, safe, and desirable," said David P. Cole, Chief Operating Officer of NDC.
Given jointly by NAHB and NDC, the award is named in honor of Robert J. Corletta, long-time executive director of multifamily operations at NAHB before his death in 1998. Corletta was recognized by his peers as a visionary in the affordable housing industry, particularly for his efforts supporting congressional passage of the Community Reinvestment Act
.
, the fourteenth United States Secretary of Housing and Urban Development
, left office on January 20, 2009, with the inauguration of Barack Obama
as the 44th President of the United States
, Montgomery assumed the acting position of secretary until Obama appointee Shaun Donovan
was confirmed by the United States Senate
on January 22; he was sworn in on January 26.
United States Department of Housing and Urban Development
The United States Department of Housing and Urban Development, also known as HUD, is a Cabinet department in the Executive branch of the United States federal government...
. He was confirmed to the position in February 2005, and resigned in July 2009. He is now a partner at the Collingwood Group, LLC, a business consulting firm.
Education and career
From January 2001 until January 2003, Brian Montgomery served as Deputy Assistant to the President and Director of Advance, and from January 2003 to April 2005, he served as Deputy Assistant to the President and Cabinet Secretary. While serving in the White House, Brian Montgomery contributed to the policy process on a wide range of issues including the Administration's efforts to boost homeownership, increase access to affordable housing, and to reform both the Real Estate Settlement Procedures ActReal Estate Settlement Procedures Act
The Real Estate Settlement Procedures Act , was an act passed by the United States Congress in 1974. It is codified at Title 12, Chapter 27 of the United States Code, .- Purpose :...
and the government sponsored enterprises.
Following the Space Shuttle Columbia disaster
Space Shuttle Columbia disaster
The Space Shuttle Columbia disaster occurred on February 1, 2003, when shortly before it was scheduled to conclude its 28th mission, STS-107, the Space Shuttle Columbia disintegrated over Texas and Louisiana during re-entry into the Earth's atmosphere, resulting in the death of all seven crew members...
in February 2003, Mr. Montgomery headed up a White House working group to monitor all facets of the accident investigation. This ultimately led to the process that developed the President's vision for space exploration. For this effort, Mr. Montgomery was awarded the NASA Exceptional Service Medal
NASA Exceptional Service Medal
The NASA Exceptional Service Medal is an award granted to U.S. government employees for significant sustained performance characterized by unusual initiative or creative ability that clearly demonstrates substantial improvement in engineering, aeronautics, space flight, administration, support, or...
in June 2004.
Federal Housing Commissioner
One of Brian Montgomery's primary initiatives since becoming Federal Housing Commissioner has been the creation and promotion of a bill designed to modernize the Federal Housing AdministrationFederal Housing Administration
The Federal Housing Administration is a United States government agency created as part of the National Housing Act of 1934. It insured loans made by banks and other private lenders for home building and home buying...
. The Modernization Bill, which passed the House of Representatives in July 2006, is primarily focused on increasing borrower flexibility through both policy and programmatic changes. Included among them are increased loan limits, updated down payment assistance options, and a risk-based premium structure. The goal of the Modernization Bill was to provide low and moderate-income borrowers a safe homeownership option at a fair price.
Another one of Assistant Secretary Montgomery's priorities while at the Department of Housing and Urban Development was the preservation of affordable multifamily rental housing, achieved primarily through mortgage insurance as well as flexible refinancing options. During Assistant Secretary Montgomery's tenure, HUD went to great lengths to get legislation passed in the House of Representatives that would preserve more than 900 apartment complexes, allowing for 87,000 additional units of affordable housing.
Brian Montgomery's time at the Department of Housing and Urban Development has also been marked by extensive work with Hurricane Katrina
Hurricane Katrina
Hurricane Katrina of the 2005 Atlantic hurricane season was a powerful Atlantic hurricane. It is the costliest natural disaster, as well as one of the five deadliest hurricanes, in the history of the United States. Among recorded Atlantic hurricanes, it was the sixth strongest overall...
disaster victims. He chaired the Department of Housing and Urban Development's Hurricane Recovery and Response Center at Headquarters and helped coordinate and secure temporary and long-term housing for displaced persons.
During Brian Montgomery's tenure as Federal Housing Commissioner, the Department of Housing and Urban Development also launched a campaign meant to educate African-Americans looking to buy their first homes. He was interviewed by National Public Radio on the subject.
Secretary Montgomery is the 2008 recipient of the Robert J. Corletta Award for Achievement in Affordable Housing. The Corletta Award, presented annually by the National Association of Home Builders (NAHB) and the Neighborhood Development Collaborative (NDC), pays tribute to individuals who have shown extraordinary creativity and dedication to the cause of affordable housing.
In bestowing the award to the Commissioner, the housing groups cited in particular his efforts to keep FHA programs viable for the production and rehabilitation of rental apartments that low and moderate income households can afford.
"Given the current difficulties in the mortgage markets, FHA programs are more important than ever, and Brian has played a critical role in ensuring that these programs support the creation of affordable housing for America's working families," said Bob Nielsen, NAHB vice president/secretary and a home builder from Reno, Nev. Nielsen presented the award to the commissioner during NAHB's Spring Board of Directors' Meeting held here last week.
Nielsen noted that the Commissioner listened to the concerns of NAHB and other industry groups when the Administration last year proposed increasing the mortgage insurance premiums on certain FHA programs—Sec. 221(d)(4) and others—by as much as 16 basis points. After reviewing NAHB's economic data and analysis showing the tremendous effects such a dramatic increase would have on the renters in those programs—overwhelmingly those with incomes at 60 to 80 percent of an area's median—the Commissioner supported holding the line on those premiums. In January, HUD announced that it would not implement the increase.
"Brian Montgomery's support on this critical issue is right in line with the legacy of Bob Corletta, who believed that all citizens, whatever their financial circumstances, deserve a home that is affordable, safe, and desirable," said David P. Cole, Chief Operating Officer of NDC.
Given jointly by NAHB and NDC, the award is named in honor of Robert J. Corletta, long-time executive director of multifamily operations at NAHB before his death in 1998. Corletta was recognized by his peers as a visionary in the affordable housing industry, particularly for his efforts supporting congressional passage of the Community Reinvestment Act
Community Reinvestment Act
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities, including low- and moderate-income neighborhoods...
.
Acting Secretary of Housing and Urban Development
When Steve PrestonSteve Preston
Steven C. Preston served as the 14th Secretary of the U.S. Department of Housing and Urban Development from 2008 to 2009 and the 22nd Administrator of the U.S. Small Business Administration from 2006 until his appointment as HUD Secretary...
, the fourteenth United States Secretary of Housing and Urban Development
United States Secretary of Housing and Urban Development
The United States Secretary of Housing and Urban Development is the head of the United States Department of Housing and Urban Development, a member of the President's Cabinet, and thirteenth in the Presidential line of succession. The post was created with the formation of the Department of Housing...
, left office on January 20, 2009, with the inauguration of Barack Obama
Barack Obama
Barack Hussein Obama II is the 44th and current President of the United States. He is the first African American to hold the office. Obama previously served as a United States Senator from Illinois, from January 2005 until he resigned following his victory in the 2008 presidential election.Born in...
as the 44th President of the United States
President of the United States
The President of the United States of America is the head of state and head of government of the United States. The president leads the executive branch of the federal government and is the commander-in-chief of the United States Armed Forces....
, Montgomery assumed the acting position of secretary until Obama appointee Shaun Donovan
Shaun Donovan
Shaun L.S. Donovan is the United States Secretary of Housing and Urban Development, serving in the cabinet of President Barack Obama. Prior to this he headed the New York City Department of Housing Preservation and Development...
was confirmed by the United States Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
on January 22; he was sworn in on January 26.