Mortgage Daily

Published On: May 23, 2014

President Barack Obama is making some changes in his administration that include a new chief for the Department of Housing and Urban Development.

In a press conference this afternoon, Obama said that he has nominated HUD Secretary Shaun Donovan to be the director of the Office of Management and Budget.

Donovan was originally nominated in December 2008 by Obama to be HUD secretary at a time when he worked as commissioner of New York City’s Department of Housing Preservation and Development.

The Senate confirmed Donovan in January 2009.

The president praised Donovan for overseeing HUD during a period when the U.S. housing market went from a free fall when he took over at HUD to a recovery.

A statement from Mortgage Bankers President and Chief Executive Officer, who worked for Donovan as Federal Housing Commissioner, praised Donovan’s work as HUD secretary adding, “He will be a great OMB director.”

Also in attendance at the press conference were Vice President Joseph Biden and San Antonio, Texas, Mayor Julian Castro.

Castro was present because Obama is nominating him to replace Donovan as HUD secretary.

Published reports suggest that Castro is in line to be the Democratic vice presidential nominee in the next presidential election.

“To be your nominee, President Obama, is simply a blessing to me,” Castro said at the press conference.

Stevens called Castro “a brilliant academic.”

“He is a forward thinking policy advocate who will bring a youthful vigor to the department,” the MBA CEO stated.

Castro and Donovan now face the senate confirmation process.

Julian Castro with President Obama

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