American Banker (07/09/08) P. 3; Adler, Joe
At a July 8 forum hosted by the Federal Deposit Insurance Corp. to discuss ways to ensure that low- and moderate-income borrowers continue to have access to mortgages, FHA Commissioner Brian Montgomery said the FHA should be broken off from HUD. The agency has difficulty recruiting and retaining professional staff and upgrading its technology systems as part of HUD, he noted. "[An independent FHA could] focus solely on its own mission, . . . it needs to have the tools and personnel, and the independence, certainly with congressional oversight, to better serve that role," according to Montgomery.
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