U.S. Housing and Urban Development Secretary Alphonso Jackson announced today he is resigning as the nation’s chief housing officer. Jackson will conclude his government service as the nation’s 13th HUD Secretary on April 18, said a HUD press release. “During my time here, I have sought to make America a better place to live, work and raise a family,” Jackson said. “I take great pride in working alongside some of the most dedicated civil servants in America. The hardworking people at HUD make a difference in the lives of thousands of Americans daily.” According to the HUD release, Jackson during his term oversaw HUD’s $37 billion budget and 9,200 employees. The former HUD secretary has recently caught the ire of the U.S. Senate after refusing to answer questions regarding accusations that he had in appropriately directed his staff to steer federal housing contracts to Jackson’s political allies. Senate Banking Committee Chairman Chris Dodd (D-Conn.) asked for Jackson’s resignation earlier in March, stating that Jackson was unfit to lead HUD now that the U.S. is in the midst of a housing crisis.
More From Asset Securitization Report
SAGE Residential raises $463.8 million from closed-end second-line mortgages
The A1 class is broken down into three AAA-rated tranches, made up of initial exchangeable notes that can be exchanged for the exchangeable notes.
Wall Street’s AI debt machine is starting to choke on supply
Yields are soaring into the double digits on bonds and loans funding the AI infrastructure buildout. Bankers are finding it more difficult to offload risk to insurers and other investors.
Balbec Capital leans toward multifamily as underwriting standards shift
Incentives structure and fewer losses drive commercial real estate collateralized loan obligation issuance over conduit commercial mortgage-backed securities.
By
John Hintze
For Fed, politics impossible to avoid in pre-midterm FOMC
The Federal Open Market Committee's voting history heading into previous elections might shed light on how it approaches this week's decision.
Post-2022 loans drive 43% of foreclosure starts; act early
Loans originated in 2022 or later accounted for 43% of September's foreclosure starts and 49% of completed sales, according to the ICE's first look report.