FHA Book

HUD Secretary Nominee Announced

President Bush has announced Steven C. Preston as his nominee for the new Secretary of the Department of Housing and Urban Development (HUD). Preston is currently the head of the Small Business Administration. According to Bloomberg News:

“Steve Preston is an experienced manager,” Bush said at the White House with Preston, 47, by his side. The housing department “requires strong leadership at a time when our housing market is experiencing a period of challenge and uncertainty.”

Let’s hope that Preston’s experience with the SBA will help him understand the pressing needs of HUD and the FHA.