Tester pushes HUD nominee Castro on housing finance reform

Senator questions San Antonio mayor during confirmation hearing

(U.S. SENATE) – Senator Jon Tester today released the following statement after questioning Julian Castro, President Obama’s nominee to be the next Secretary of the Department of Housing and Urban Development, at a Senate Banking Committee hearing:

“I appreciate Mayor Castro’s support for strengthening our nation’s housing finance system. Building a strong foundation for our housing market will protect taxpayers and keep our economy growing. I look forward to working with him on this issue, as well as ensuring rural America and Indian Country get a fair shake, as we make responsible decisions about the future of our country.”

Tester helped write and pass the bipartisan Housing Finance Reform and Taxpayer Protection Act out of the Senate Banking Committee in May. The bill preserves the 30-year fixed-rate mortgage, winds down government-backed entities Fannie Mae and Freddie Mac and strengthens protections for taxpayers.

Tester, who is the Chairman of the Senate Indian Affairs Committee, also pressed Castro to continue strong funding for tribal housing if he is confirmed as the next Secretary.