The Senate Banking Committee voted 13-11 to advance Scott Turner’s nomination to become the new secretary of the Department of Housing and Urban Development (HUD) in a party-line vote.
Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit urged the committee to confirm Turner and highlighted an opportunity for the Trump administration to reduce housing costs for low- to moderate-income Americans.
He explained the Federal Housing Administration’s (FHA) capital reserve ratio is over five times the statutory requirement, which affords the Trump administration flexibility to lower mortgage insurance premiums for FHA loan borrowers.
“Similar moves could also be taken to make HUD’s multifamily programs less expensive, including lowering multifamily mortgage insurance premiums and excessive escrow account requirements,” he said. “We will continue to advocate for these and other important steps that will provide more abundant and affordable housing opportunities while protecting taxpayers.”
Turner is a former NFL football player who interned for former California state representative Duncan Hunter during the off-season. In 2013, he was elected to the Texas House of Representatives where he served two terms and ran unsuccessfully for the House Speaker role. He did not seek a third term. He ran the White House Opportunity and Revitalization Council during Trump’s first term.
“It’s time for a blue-collar comeback,” Senate Banking Committee Chair Tim Scott (R-S.C.) said in a statement. “And the man who will be leading that comeback at the Department of Housing and Urban Development is Scott Turner, someone with a remarkable life story and the skillset necessary to enact change. Solving the problems before our country requires grit and determination. Whether as a young man, working as a dishwasher at the Spring Creek Barbeque. Or the man who built a successful NFL career — Scott never let his circumstances define his capability to succeed.”
Turner has indicated he plans to cut portions of the department’s budget that do not aid in the building of affordable housing. This would include programs related to housing vouchers and homelessness.
Democrats unanimously voted against his nomination, citing concerns about his unfinished FBI background check. However, Ranking Member Elizabeth Warren (D-Mass.) noted there is a shared interest in lower housing costs among both political parties, as well as Turner.
“I have some concerns about his nomination, but I was encouraged that Mr. Turner acknowledged our housing supply crisis and his commitment to work together to address it,” Warren said. “Our housing shortage is the single most important factor driving too high housing prices, and as I said in my opening statement last week, we are not building enough housing in this country, and that is one of the core reasons that housing prices are so high.”
Democratic committee members wrote a letter to Scott asserting that it is customary for nominees to complete a background check prior to a committee vote.
A Redfin survey released in October showed the cost of housing as the fourth most important issue among a participant pool of 894 renters and 805 homeowners. The top three issues were economy, inflation and health care.