Department of Housing and Urban Development Secretary Marcia Fudge announced her retirement this week, effective March 22.
Fudge, 71, said she had “mixed emotions” about leaving HUD. She is expected to return to Ohio to spend more time with her family.
Her decision to retire eight months before the presidential election has raised some questions.
Ted Tozer, a former Ginnie Mae president, said it is unlikely the administration will be able to get a new secretary confirmed before the election.
Tozer added that without a confirmed HUD secretary in place, the administration might not have a chance to defend its proposed fiscal year 2025 HUD budget before Congress.
Sarah Brundage, CEO of the National Association of Affordable Housing Lenders, said that while the Biden administration has a strong team focused on nominations, she also has doubts about whether the Senate will confirm a nominee to lead HUD before the November election.
HUD Deputy Secretary Adrianne Todman will take over as HUD acting secretary later this month.
Fudge is the second Cabinet secretary to leave the Biden administration. Last year, Labor Secretary Marty Walsh left to run the National Hockey League Players’ Association.
Acting Labor Secretary Julie Su, nominated last year to fill the position permanently, has yet to be confirmed by the Senate.
This provides a good idea of how difficult it would be for the Biden administration to get a new HUD secretary confirmed before the election.
Before taking on the Cabinet position, Fudge served as House representative for Ohio’s 11th district for three terms and as mayor of Warrensville Heights, OH, for two terms.
FHA Commissioner Julia Gordon in a LinkedIn post this week said working under Fudge was “a master class of how to center people and communities in the work of government.”
Ginnie Mae President Alanna McCargo said Fudge changed the trajectory of HUD by championing efforts to right past wrongs and ensure that historically underserved communities have access to housing.
Fellow Ohio Democrat Sherrod Brown, chair of the Senate Committee on Banking, Housing and Urban Affairs, said Fudge led HUD through a critical period — responding to unprecedented housing challenges during the pandemic, reducing costs for first-time homebuyers and fighting housing discrimination.
A wide range of mortgage finance and housing stakeholders, including the Mortgage Bankers Association, the National Housing Conference and the National Association of Real Estate Brokers, also applauded Fudge’s accomplishments as HUD secretary.
