Five Star’s Ed Delgado Criticizes Senate HUD Nomination Hold

first_img  Print This Post Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Lawmakers React to Wells Fargo Fine Next: Single-Family Rentals Over the Past Decade The Week Ahead: Nearing the Forbearance Exit 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago April 20, 2018 3,438 Views Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Ed Delgado and HUD Secretary Ben Carson at the Five Star Government ForumOn Thursday, it was reported that U.S. Sen. Tammy Duckworth (D-Illinois) has placed a blanket hold on all nominations for vacant positions within the U.S. Department of Housing and Urban Development.Sen. Duckworth made this move after not receiving a response within her prescribed deadline to a letter containing more than 25 detailed questions that she and Sen. Dick Durbin (D-Illinois) sent to HUD Secretary Ben Carson regarding the closure of two dilapidated public housing complexes in Thebes, Illinois, that impacted 85 residents. In the letter, the Senators called the closing “an ill-advised and heedless decision.” HUD placed the county public housing authority in administrative receivership in 2016 after diagnosing years of mismanagement by local public housing authorities, a move widely praised at the time by both senators.On April 3, Five Star President and CEO Ed Delgado and HUD Secretary Dr. Benjamin Carson met at the Five Star Government Forum in Washington D.C., where they commented on the urgency around resolving Brian Montgomery’s nomination as Assistant Secretary for Housing and Federal Housing Administration Commissioner for the United States Department of Housing and Urban Development.However, the blanket hold, a parliamentary procedure designed to keep present and future departmental nominations from being considered on the Senate floor so long as it is in place, may have more detrimental ramifications than Sen. Duckworth is anticipating—and the people it will impact the most are American homeowners.“The delay on the nomination of Brian Montgomery is a political game played at the expense of homeownership,” Delgado said in reaction to the hold. “For three and a half years, FHA has been without a confirmed, permanent commissioner. This hold continues the practice of depriving HUD of vital leadership at one of its most crucial positions. These types of parliamentary tricks are out of step with the needs of homeowners and represent politics at its worst.”Earlier this month, Delgado, on behalf of multiple trade organizations, sent a letter to the Senate Majority Leader Mitch McConnell, congratulating him on working with the administration to lead the confirmation process of a record number of nominees to the federal bench, but urging that the Senate move on the nomination of Brian D. Montgomery for the position of Assistant Secretary for Housing and Federal Housing Administration Commissioner for the United States Department of Housing and Urban Development.“On November 28, 2017, and again on January 8, 2018, the Senate Banking Committee voted to recommend the nomination of Brian D. Montgomery … Now, nearly four months since being approved by the committee for the second time, the status of Mr. Montgomery’s nomination to lead the Federal Housing Administration remains uncertain, with no vote scheduled in the near term,” Delgado wrote.In his letter, Delgado outlines the importance of the FHA to the mortgage industry and in preserving the American Dream of Homeownership, citing that the agency’s portfolio totals more than $1.37 trillion dollars in assets; has provided mortgage insurance for 47.5 million single-family homes and since its inception; and in 2017, FHA insured 37.7 percent of all mortgages provided to racial or ethnic minorities.“Despite its importance within the mortgage market, the FHA has been without a Senate-confirmed leader since 2014, stymieing the effectiveness of the organization and the ability of its staff to make meaningful policy adjustments as the market dictates,” Delgado wrote.In addition to Montgomery, two other senior nominees await confirmation votes for HUD positions, according to the Washington Post Nomination Tracker.Robert Hunter Kurtz is awaiting confirmation as Assistant Secretary for Public and Indian Housing. The position serves as the principal adviser to the Secretary and Deputy Secretary on matters relating to the development and management of the department’s public and Indian housing programs, which provide affordable housing to more than 1.3 million households nationwide and oversees a budget of about $27 billion.Seth Daniel Appleton is also awaiting confirmation for the post of Assistant Secretary for Policy Development and Research, the principal advisor to the Secretary on overall departmental policy, program evaluations, demonstrations, and research, and who is responsible for providing economic information and analyses of housing and community development statistics and other data. Related Articles Share Save Rachel Williams attended Texas Christian University (TCU), where she graduated with Magna Cum Laude with a dual Bachelor of Arts in English and History. Williams is a member of Phi Beta Kappa, widely recognized as the nation’s most prestigious honor society. Subsequent to graduating from TCU, Williams joined the Five Star Institute as an editorial intern, advancing to staff writer, associate editor and is currently the editor in chief and head of corporate communications. She has over a decade of editorial experience with a primary focus on the U.S. residential mortgage industry and financial markets. Williams resides in Dallas, Texas with her husband. She can be reached at [email protected] Five Star’s Ed Delgado Criticizes Senate HUD Nomination Hold The Best Markets For Residential Property Investors 2 days agocenter_img Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Five Star’s Ed Delgado Criticizes Senate HUD Nomination Hold Tagged with: Ben Carson blanket hold Brian Montgomery Department of Housing and Urban Development Dick Durbin Ed Delgado FHA FHA Commissioner Five Star Institute HUD Nominations Secretary Ben Carson Tammy Duckworth in Daily Dose, Featured, Government, Journal, News The Best Markets For Residential Property Investors 2 days ago About Author: Rachel Williams Data Provider Black Knight to Acquire Top of Mind 2 days ago Ben Carson blanket hold Brian Montgomery Department of Housing and Urban Development Dick Durbin Ed Delgado FHA FHA Commissioner Five Star Institute HUD Nominations Secretary Ben Carson Tammy Duckworth 2018-04-20 Rachel Williams Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribelast_img read more

Petrofac and Transmission Capital Sign Five-Year OFTO Deal

first_imgPetrofac has secured a five-year framework agreement with Transmission Capital to provide engineering services across six of its Offshore Transmission Owner (OFTO) assets.Under the agreement, Petrofac has already won two subsea engineering contracts for key export cables connecting the Lincs and Robin Rigg offshore wind farms in the UK with their onshore transmission systems.The two companies previously collaborated in 2016, when Petrofac completed risk assessment and engineering support on two 48km subsea cables connecting the Lincs offshore wind farm with the onshore transmission system.The new cooperation is said to enable the UK-based company to support future engineering requirements across all of Transmission Capital’s OFTO export cables and substations in the Southern North Sea and the Irish Sea.Usman Darr, Vice President Engineering Services for Petrofac Engineering and Production Services West, said: “We very much look forward to having the opportunity to leverage our experience of challenging seabed conditions on behalf of Transmission Capital, through a range of multi-discipline engineering and operational support services.”After Transmission Capital had been chosen as the preferred bidder for the Lincs offshore transmission license in May 2012, the company established TC Lincs OFTO Ltd as a special purpose company, which won the license and took ownership of assets in November 2014 at the price of GBP 307.7 million.last_img read more

Elbit Systems to provide security solution for Karish and Tanin FPSO

first_imgIsrael-based defense electronics company Elbit Systems has been awarded a contract from Energean for a security solution for the Karish and Tanin FPSO.Elbit Systems said on Monday that it had been awarded a $15 million contract from Energean Israel Ltd., a subsidiary of Energean Oil and Gas, to supply a comprehensive solution for the floating production storage and offloading (FPSO) vessel for the Karish and Tanin gas fields offshore Israel.According to the company, the contract will be performed over an approximately two-year period, with warranty and logistic support continuing for an additional ten years.The technological suite which will be supplied by the company’s subsidiary, Elbit Security Systems Ltd., includes a wide range of sensors, among them electro-optic systems, radars, sonars, a command and control center as well as equipping rapid interception boats with a dedicated suite of sensors.The security solution will enable to detect and identify both surface and underwater threats and will assist security teams to respond efficiently.Elad Aharonson, general manager of Elbit Systems’ intelligence, surveillance, target acquisition, and reconnaissance (ISTAR) division, said: “Providing security to assets located in countries’ exclusive economic zones demands sophisticated technological and operational capabilities.“Having been selected by Energean to provide the security suite for their Karish-Tanin gas fields’ FPSO platform, is a testament to our competitive advantage in this area.”last_img read more