Brian Montgomery was named the new Federal Housing Administration commissioner after the U.S. Senate vote on Wednesday. Montgomery gained a clear victory earning 74 votes to 23.
"President Trump nominated Montgomery, who had previously served as FHA commissioner under the second President Bush from 2005 to 2009, for the post in September," according to Reverse Mortgage Daily.
"At the time, Trump’s move was met with praise from the Home Equity Conversion Mortgage and wider lending communities, with National Reverse Mortgage Lenders Association president Peter Bell lauding Montgomery’s 'extraordinary competence in his management and oversight of the HECM reverse mortgage program.'"
Montgomery is a big proponent for the reverse mortgage program. The report states that Montgomery even said he would recommend the program for his mother.
Naturally, due to his belief in the reverse mortgage program, lenders and professionals in the Home Equity Conversion Mortgage sector are very happy with the appointment of the new FHA commissioner.
To learn more about Montgomery and what to expect from his run as commissioner, click on the image above.