The Secretary of the U.S. Department of Housing and Urban Development, Dr. Ben Carson, and Federal Housing Administration (FHA) Commissioner Brian D. Montgomery were present on a conference call Thursday with representatives of nearly 100 organizations to provide an update on the Department’s response to the coronavirus outbreak.
The call, which was also attended by Vice President of the United States Mike Pence, featured information delivered directly to stakeholders impacted by HUD’s response to the COVID-19 coronavirus pandemic, according to an informational notice distributed by HUD.
“Vice President Pence discussed the latest action by the White House Coronavirus Task Force, which he leads. Secretary Carson updated stakeholders on actions implemented at HUD to maximize the Department’s crisis response, including moving expeditiously to make $3 billion of COVID-19 relief funding available to communities across the nation,” the Department detailed in its announcement of the call.
The $3 billion in relief funding HUD is charged with distributing to communities is part of the Coronavirus Aid, Relief, and Economic Security (CARES) Act which was signed into law at the end of March by President Trump.
Additionally, FHA Commissioner Montgomery provided an update on HUD’s efforts to help single family and multifamily borrowers with mortgages insured by the FHA, renters and owners of HUD-assisted multifamily properties, including rental housing for very low income elderly and persons with disabilities.
Present on the call were representatives of organizations with interest in the reverse mortgage product category including the National Reverse Mortgage Lenders Association (NRMLA), the American Bankers Association (ABA) and Mr. Cooper Group. Representatives from a total of 92 organizations were present on the call, according to HUD.
“In conclusion, HUD and its federal partners will continue to work with stakeholders and keep them apprised of additional actions the Department takes to alleviate challenges presented by the coronavirus outbreak,” the Department said in its statement related to the call.