President-elect Donald Trump remains vague on housing policy, but his most recent cabinet nomination offers a glimpse of what a Trump Administration could mean for reverse mortgage lenders and the broader mortgage lending industry.
The nomination this week of Dr. Ben Carson to serve as Secretary for the Department of Housing and Urban Development (HUD) was met with mixed reviews from mortgage industry groups and policy experts. While some applauded the cabinet selection, others were left scratching their heads trying to grasp the qualifications that would earn a retired neurosurgeon the responsibility of leading an agency that serves millions of families, seniors and first-time homebuyers.
A key piece of the puzzle for housing over the next four years will be whoever Trump chooses for Commissioner of the Federal Housing Administration. But until that selection is made, there are several areas of housing finance that experts say would fit the agenda of the Trump Administration with a direct impact on FHA lending, including reverse mortgages.