Marcia L. Fudge, secretary of the U.S. Department of Housing and Urban Development, is unexpectedly resigning due to personal circumstances.
Her exit comes after three years at HUD’s helm, having served for almost all of the Biden presidency.
Fudge attributed her decision to her 92-year-old mother, with whom she wants to spend more time, and says she has no plans to run for office again.
“It’s time to go home,” Fudge told USA Today. “I do believe strongly that I have done just about everything I could do at HUD for this administration as we go into this crazy, silly season of an election.”
Fudge will be just one of a few cabinet members to leave the Biden administration, giving it the distinction of having one the lowest turnover rates in modern times.
“Under Marcia’s transformational leadership, we have worked hard to lower housing costs and increase supply,” President Joe Biden said in a statement. “Thanks to Secretary Fudge, we’ve helped first-time home buyers and we are working to cut the cost of renting. And there are more housing units under construction right now than at any time in the last 50 years.”
Fudge’s departure comes shortly after the administration announced plans to improve housing access in the State of the Union address last week, including tax credits for both buyers and sellers, as well as legislation to support home construction.
More than half of homeowners and renters say they will partly base their choice for President on housing affordability come November.
Mortgage Bankers Association President and CEO Bob Broeksmit thanked Fudge for her leadership in a statement, calling her a “trusted industry partner and champion of improving affordable homeownership and rental housing opportunities for all Americans.”
Fudge, a former congresswoman from Ohio, was the first Black woman to helm HUD in more than 40 years. The department has supported 250,000 Black homebuyers with FHA loans since the start of 2021. As a percentage of its business, the FHA serves Black borrowers at three times the rate of the overall market.
When Fudge departs, Deputy Secretary Adrianne Todman will serve as acting secretary.
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