Former FHA commissioner Dana Wade returns to politics

Dana Wade, the former Federal Housing Administration commissioner who served during the Trump administration, announced a return to politics Thursday.

Per a LinkedIn post, Wade revealed that she has stepped into the role of senior adviser to the majority Republican party for the House Financial Services Committee.

“This is a critical time in our economy and the Committee’s work is imperative,” she wrote in her post. “Not to mention that we have the best team!”

Prior to her taking this new position, the housing veteran worked for over two years as a chief production officer for all FHA-backed loan originations at Walker & Dunlop, a Bethesda, Maryland-based commercial real estate finance company.

During the Trump administration, Wade filled a number of roles. From June 2017 to June 2018, she served as an acting FHA commissioner. She then worked as the general deputy assistant secretary in HUD’s Office of Housing before joining the Office of Management and Budget, where she worked as a program associate director for general government — overseeing the HUD budget — until December 2019.

In July 2020, Wade was confirmed as FHA commissioner, where she worked in tandem with Brian Montgomery, then deputy secretary of the Department of Housing and Urban Development, to roll out FHA  Catalyst and pandemic-related policies.

In the past, Wade has floated ideas such as removing the FHA’s reverse mortgage program from the main Mutual Mortgage Insurance Fund and turning the administration into a government corporation. 

Wade has a strong track record of approval from industry stakeholders, with organizations such as the U.S. Mortgage Insurers, the National Association of Realtors and the Mortgage Bankers Association all expressing support when she was confirmed three years ago.

Previously, Wade was also the deputy staff director of the Senate Banking Committee and the Republican deputy staff director of the Senate Appropriations Committee. She also worked as a policy adviser during Sen. John McCain’s 2008 presidential run.

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