The Senate confirmed President Donald Trump’s nominee for deputy secretary of the Department of Housing and Urban Development. Pam Patenaude, who previously served at the department under former President George W. Bush, detailed her housing work within her testimony.
Patenaude played an instrumental role in the development of HUD’s five-year Strategic Plan and she detailed her work regarding disaster relief efforts in her time at HUD in her testimony.
Find out more about her experience, and how the Mortgage Bankers Association and the National Association of Realtors responded to the confirmation.
The Financial Institutions and Consumer Credit Subcommittee heard testimony regarding the TRID Improvement Act of 2017, a bill introduced by Rep. French Hill (R-Ark.) that would amend RESPA and the Truth in Lending Act to expand the period where a creditor is allowed to cure a good-faith violation on a Loan Estimate or Closing Disclosure from 60 to 210 days after consummation.
During the question and answer portion of the hearing, Rep. Keith Ellison (D-Minn.) expressed concerns about the expanded period, asserting that it would create less incentive for lenders to correct mistakes quickly.
Find out why Hill proposed to expand the timeframe from two to seven months.
The National Flood Insurance Program has been extended by three months as part of a $15 billion disaster relief package signed by President Donald Trump. Although the National Association of Realtors called the extension a “must-do item,” not everyone was onboard with the package itself.
Texas Republican Rep. Jeb Hensarling, who is also the Chairman of the House Financial Services Committee, voted against the package.
Read on to learn why.
A coalition of housing groups has called for the Senate to vote of Pam Patenaude’s nomination for Deputy Secretary for the Department of Housing and Urban Development. Patenaude previously was considered for secretary.
Patenaude, who currently serves as president of the J. Ronald Terwilliger Foundation for Housing America’s Families, served as HUD assistant secretary for community planning and development under President George W. Bush.
Read on for more details from the coalition’s letter.
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