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Wed, 18 Jun 2014 09:03:35 +0000
(WASHINGTON) -- San Antonio Mayor Julian Castro, President Obama's nominee to become the next secretary of Housing and Urban Development, faced little resistance Tuesday during a confirmation hearing before the Senate Banking Committee.
Although Democrats control the panel, Castro got a warm reception from Republicans as well with fellow Texan John Cornyn describing the mayor's background as "one that’s uniquely Texan and, I would say, uniquely American."
The committee agreed with Castro's view that HUD will need to pass housing finance reform if he becomes secretary.
Tennessee Republican Bob Corker concurred with the nominee that lenders Fannie Mae and Freddie Mac must also be revamped.
The only bump during the hearing came when Senator Patrick Toomey of Pennsylvania objected to Castro not denouncing the practice of eminent domain to confiscate mortgages from private lenders at a discount.
If the Senate Banking Committee confirms Castro's nomination, it will go the full chamber for a vote. He is positioned to replace outgoing HUD Secretary Shaun Donovan, who is in line to become the next White House budget director.
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