Senate Confirms Brian D. Montgomery as Commissioner of Federal Housing Administration (FHA)

WASHINGTON and NEW YORK, May 23, 2018 /PRNewswire/ -- Situs, the premier global provider of strategic business solutions for the finance and commercial and residential real estate industries, applauds today's Senate confirmation of Brian D. Montgomery to serve as Assistant Secretary for Housing/Federal Housing Commissioner of the U.S. Department of Housing and Urban Development (HUD).  The next step is for the President to sign the commission, after which Mr. Montgomery will be sworn in and assume the authority to carry out the duties of the office.

Mr. Montgomery served as Deputy Assistant to the President from 2001-2005 followed by service as Assistant Secretary of Housing/Federal Housing Commissioner from 2005-2009 in the George W. Bush Administration and six months into the Barack Obama Administration, including serving as acting HUD Secretary in January 2009.  Mr. Montgomery played a key role in HUD's recovery and rebuilding efforts along the Gulf Coast and New Orleans following Hurricanes Katrina and Rita, and chaired HUD headquarters' Hurricane Recovery and Response Center, coordinating and securing temporary and long-term housing for displaced persons.

In a recent letter calling on the Senate to confirm Montgomery, a broad cross-section of housing groups, including the National Housing & Rehabilitation Association, the Local Initiatives Support Corporation, the Mortgage Bankers Association, Habitat for Humanity, the National Association of Home Builders and the National Association of Realtors said "Montgomery is highly qualified for this important position that is critical to HUD's mission, and there is broad consensus in the housing community that he is the right candidate to lead FHA. The Federal Housing Administration at HUD needs effective leadership and capacity to oversee its mortgage lending and regulatory agenda and to deliver critically-needed services. Montgomery will provide that leadership and brings valuable practical experience to the position."

Mr. Montgomery will leave his current position as Vice Chairman of The Collingwood Group, a Situs Company.  The Collingwood Group is a Washington, DC-based advisory firm focused on business consulting, risk management and compliance within the financial services industry.

"Brian's keen understanding of housing finance and the unmet housing needs of American families, coupled with his passion for public service provide the perfect cornerstone for FHA success," said Steve Powel, Chief Executive Officer of Situs. "The housing policy challenges he faces are significant, but as a colleague I've seen his unabated approach and drive to reach solutions. We wish Brian all the best as he begins his tenure as FHA Commissioner."

ABOUT THE COLLINGWOOD GROUP

A Situs company, Collingwood is a Washington, D.C.–based provider of specialized business advisory, business solutions and transaction services to the residential housing finance industry.

ABOUT SITUS

Situs is a global provider of strategic business and technology solutions to the real estate and finance industries. Situs has been involved in more than $1 trillion of real estate debt and equity deals across the U.S., Europe and Asia, and has acquired a number of platforms. In 2012, Situs acquired Deutsche Bank's European Servicing operations and became one of the largest third-party loan servicers in Europe; and Hatfield & Phillips, the largest non-performing loan and CMBS Special Servicer in Europe in 2016. Situs' acquisition in 2017 of The Collingwood Group, a Washington, DC, advisory firm focused on residential housing finance, expanded Situs' offer in the residential market, and was bolstered by the 2018 acquisition of MountainView Financial Solutions, an industry-leading valuation and risk analytics solutions provider for the financial services sector.

Situs is a rated primary and special servicer with Moody's, Fitch and Morningstar, has more than $165 billion (€137 billion) of assets under management and is ranked a top 20 commercial loan servicers in multiple categories by the Mortgage Bankers Association. In 2016, Situs received a second consecutive "Advisor of the Year" award from Real Estate Finance & Investment magazine, and the "Capital Advisor Firm of the Year" award from Property Investor Europe. In 2017, the firm won the "Industry Contributor of the Year" award from Real Estate Finance & Investment magazine.

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SOURCE Situs

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