As Assistant Secretary for Housing-Federal Housing Commissioner,
Brian D. Montgomery is responsible for overseeing the $400 billion
Federal Housing Administration (FHA) insurance portfolio. In addition,
he oversees HUD's regulatory responsibilities in the areas of the
Real Estate Settlement Procedures Act (RESPA), the housing mission
of Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie
Mac, and the manufactured housing industry.
Mr. Montgomery came to the U.S. Department of Housing and Urban
Development from the Executive Office of the President, where he
served as Deputy Assistant to the President and Cabinet Secretary
from January 2003 until April 2005. While serving in the White House,
Mr. 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 RESPA
and the GSEs. Mr. Montgomery also served as Deputy Assistant to
the President and Director of Advance from January 2001 until January
Following the Shuttle Columbia accident 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.
Since being Senate confirmed at HUD in June 2005, one of Mr. Montgomery's
primary initiatives has been the creation and promotion of a bill
designed to modernize FHA. 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 Mr. Montgomery's bill is to provide low and moderate-income
borrowers a safe homeownership option at a fair price.
Another one of Mr. Montgomery's priorities while at HUD has been
the preservation of affordable multifamily rental housing, achieved
primarily through mortgage insurance as well as flexible refinancing
options. During Mr. Montgomery's tenure, HUD has gone to great lengths
to get legislation passed in the House of Representatives that will
preserve more than 900 apartment complexes, allowing for 87,000
additional units of affordable housing.
Mr. Montgomery's time at HUD has also been marked by extensive
work with Hurricane Katrina disaster victims. He chaired HUD's Hurricane
Recovery and Response Center at Headquarters and helped coordinate
and secure temporary and long-term housing for displaced persons.
A graduate of the University of Houston with a B.A. in Political
Science, Brian and his wife Katy reside in Virginia. In October
2006, the couple celebrated the birth of their first child, daughter
Emily Blair Montgomery. Katy Montgomery is employed with the U.S.
Department of Homeland Security.