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FHA Commissioner Honored for Affordable Housing Efforts
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Montgomery | Assistant Secretary for Housing and Federal Housing Commissioner Brian Montgomery has been named the 2008 recipient of the Robert J. Corletta Award for Achievement in Affordable Housing.
Presented annually by NAHB and the Neighborhood Development Collaborative (NDC), the Corletta Award pays tribute to individuals who have shown extraordinary creativity and dedication to the cause of affordable housing.
Montgomery was cited in particular for his efforts to keep Federal Housing Administration 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 NAHB Vice President/Secretary Bob Nielsen, who presented the award to the commissioner during the association’s recent spring board of directors meeting in Washington, D.C.
Nielsen said that Montgomery had listened to the concerns of NAHB and other industry groups when the Administration last year proposed increasing the mortgage insurance premiums on certain FHA affordable housing programs by as much as 16 basis points.
After reviewing economic data and analysis from NAHB showing the negative impact of a premium hike on lower-income renters in those programs, Montgomery supported holding the line on premiums and 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.
The Corletta Award is bestowed in honor of Robert J. Corletta, who before his death in 1998 was long-time executive director of multifamily operations at NAHB.
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. Enacted in 1977, that landmark legislation requires banks and other lending institutions to help meet the credit needs of the communities in which they operate, and it has enabled affordable housing to be created in many low- and moderate-income neighborhoods across the country.
In 1978, Corletta co-founded NDC, a non-profit corporation whose mission is to help re-build America’s communities through the creation of affordable housing and comprehensive community development.
Past recipients of the award include Ted Schlossman, current chair of NAHB Multifamily; New Jersey Gov. Jon Corzine; Stillman D. Knight, former deputy assistant secretary for multifamily housing programs at the U.S. Department of Housing and Urban Development; and former U.S. Rep. Nancy Johnson (R-Conn.).
For more information, e-mail Ann Marie Moriarty at NAHB, or call her at 800-368-5242 x8350.
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