Secretary Fudge to Leave HUD – Todman to Serve as HUD Acting Secretary – Biden State of the Union Address Intended to Stimulate Housing Market
Secretary Fudge to Leave Hud at End of Month:
U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge has announced her resignation, effective March 22, 2024.
“It has always been the belief that the government can and should work for the people,” Fudge said. “For the last 3 years. I have fully embraced HUD’s mission to create strong sustainable, inclusive communities and quality affordable homes for all.”
In response to her resignation, the Manufactured Housing Institute (MHI) issued the following statement:
“From her confirmation hearing when she called manufactured housing an ‘outstanding option’ to calling for there to be incentive for communities to encourage manufactured homes in House testimony. Secretary Fudge ensured manufactured housing was included in HUD housing initiatives during her tenure. Under her leadership, HUD hosted two Innovative Housing Showcases and highlighted manufactured housing at these marque events and she elevated the Office of Manufactured Housing Programs to a stand alone office.”
Todman to Serve as Acting Secretary:
According to a report by the Manufactured Housing Institute (MHI), Adrianne Todman, current Deputy Secretary of the U.S. Department of Housing and Urban Development, will serve as Acting Secretary beginning at the end of March.
Todman continually engaged with the manufactured housing industry during her time as Deputy Secretary with significant experience with the industry.
State of the Union Includes Proposals to Intended to Stimulate the Housing Market:
President Biden announced several initiatives related to housing in his 2024 State of the Union Address. The proposals included a pair of new tax credits – a $10,000 refundable credit for buyers, and a $10,000 credit for sellers of starter homes – and a set of administrative actions around closing costs, including a Fannie Mae pilot to waive title insurance with additional guidance on closing costs to be issued by the CFBP.
The administration also plans to explore updating the statutory definition of manufactured housing –for example, through amending the chassis requirement–with the goal of identifying options that could provide manufactured home builders with more design flexibility and consumers with more options beyond local site-built homes for single-family homes and accessory dwelling units.
Source: Manufactured Housing Institute (MHI)
