FHA Commissioner Julia Gordon gets to work
HPC was quoted in this May 17 article from HousingWire:
Meg Burns, former director of single-family program development at the FHA and now at Housing Policy Council, which represents a dozen large banks including Wells Fargo and Chase, said FHA’s servicing guidelines are “a little out of sync with the industry” and "need an update. They’re inconsistent with the GSEs’ policies and practices and as a result, they are fairly inefficient and can be costly,” Burns said. “There is an operational burden of attempting to comply with the FHA rules, which makes it challenging, and banks have been asking for a number of years now for changes to the policies and practices.”
Burns, reflecting on the role of the FHA Commissioner ahead of Gordon’s confirmation, explained that the head of the administration wears two hats. “There’s this externally facing function that is so critically important to organizations, but that internal piece of managing a very large bureaucracy is also really important,” Burns said. “She’s got that right level of knowledge and reputational expertise that will really generate some loyalty and support from the ranks, which is really important in a job like that.”
Read the full article here.