Assistant Secretary for Housing at the U.S. Department of Housing and Urban Development and Federal Housing Commissioner Brian Montgomery has been named the 2008 recipient of the Robert J. Corletta Award for Achievement in Affordable Housing. The Corletta Award, presented annually by the National Association of Home Builders (NAHB) and the Neighborhood Development Collaborative (NDC), pays tribute to individuals who have shown extraordinary creativity and dedication to the cause of affordable housing.
In bestowing the award to the Commissioner, the housing groups cited in particular his efforts to keep FHA programs viable for the production and rehabilitation of rental apartments that low and moderate income households can afford.
"Given the current difficulties in the mortgage markets, FHA programs are more important than ever, and Brian has played a critical role in ensuring that these programs support the creation of affordable housing for America's working families," said Bob Nielsen, NAHB vice president/secretary and a home builder from Reno, Nev. Nielsen presented the award to the commissioner during NAHB's Spring Board of Directors' Meeting held here last week.
Nielsen noted that the Commissioner listened to the concerns of NAHB and other industry groups when the Administration last year proposed increasing the mortgage insurance premiums on certain FHA programs—Sec. 221(d)(4) and others—by as much as 16 basis points. After reviewing NAHB's economic data and analysis showing the tremendous effects such a dramatic increase would have on the renters in those programs—overwhelmingly those with incomes at 60 to 80 percent of an area's median—the Commissioner supported holding the line on those premiums. In January, HUD announced that it would not implement the increase.
"Brian Montgomery's support on this critical issue is right in line with the legacy of Bob Corletta, who believed that all citizens, whatever their financial circumstances, deserve a home that is affordable, safe, and desirable," said David P. Cole, Chief Operating Officer of NDC.
Given jointly by NAHB and NDC, the award is named in honor of Robert J. Corletta, long-time executive director of multifamily operations at NAHB before his death in 1998. Corletta was recognized by his peers as a visionary in the affordable housing industry, particularly for his efforts supporting congressional passage of the Community Reinvestment Act. Enacted in 1977, that landmark legislation requires banks and other lending institutions to help meet the credit needs of the communities in which they operate and has enabled affordable housing to be created in many low- and moderate-income neighborhoods across the country.
In 1978, Corletta co-founded NDC, a non-profit corporation whose mission is to help re-build America's communities through the creation of affordable housing and comprehensive community development.
Past recipients of the award include Ted Schlossman, current chair of NAHB Multifamily; New Jersey Gov. Jon Corzine, Stillman D. Knight, former eputy ssistant Secretary for Multifamily Housing Programs at the U.S. Department of Housing and Urban Development, and former U.S. Rep. Nancy Johnson (R-Conn.).
ABOUT NAHB: The National Association of Home Builders is a Washington-based trade association representing more than 235,000 members involved in residential building, remodeling, multifamily construction, property management, subcontracting, design, housing finance, building product manufacturing and other aspects of residential and light commercial construction. Known as "the voice of the housing industry," NAHB is affiliated with more than 800 state and local home builders associations around the country. NAHB's builder members will construct 80 percent of the more than 1.08 million new housing uni