Mortgage

Senate confirms Wade as FHA commissioner

WASHINGTON – The Senate confirmed Dana Wade as Commissioner of the Federal Housing Administration on Tuesday with 57-40 votes.

Wade succeeds acting FHA commissioner Len Wolfson, who took over when former commissioner Brian Montgomery was confirmed as deputy secretary of the Department of Housing and Urban Development.

"I am extremely grateful for the opportunity to gain a foothold in our country's property markets at this critical time," said Wade in a press release from HUD.

From July 2017 to June 2018, Wade was the acting FHA commissioner. She then worked as the deputy general secretary in the HUD Housing Office before moving to the Office of Administration and Budget, where she worked as the deputy program director for state surveillance on the HUD budget – until December 2019.

Dana Wade was acting FHA Commissioner from July 2017 to June 2018. She then worked as a deputy general secretary in the HUD Housing Office before moving to the Administration and Housekeeping Office.

Bloomberg news

Previously, Wade was also the deputy human resources director of the Senate Banking Committee and Republican deputy human resources director of the Senate Committee on Funds. She also worked as a political advisor during Senator John McCain's 2008 presidential election.

The Senate Banking Committee met in May to review Wade's nomination. She told lawmakers that if confirmed, her priorities would be to protect current FHA homeowners, improve the agency's IT infrastructure, and protect taxpayers from FHA losses due to the coronavirus pandemic.

"I believe that the FHA has a duty to support the country's housing markets and homeowners who are facing economic difficulties," said Wade in her opening speeches during the hearing. "As the virus passes and the economy eventually returns to its former strength, the road to recovery will require our continued efforts."

Robert Broeksmit, the President and CEO of the Mortgage Bankers Association, welcomed Wade's confirmation.

"During her tenure at HUD, Ms. Wade was an integral part of strengthening the various programs that provide affordable housing and support to homebuyers and tenants," he said. "With her expertise and experience, I am confident that Ms. Wade will successfully develop workable solutions in this unprecedented time."

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