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MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 70 March 2025 J O U R N A L making Hood the first African Ameri- can to lead a federal banking regulatory agency. While at the NCUA, Hood also served as a voting member of the Finan- cial Stability Oversight Council (FSOC), as the NeighborWorks America Board Chairman, and as Vice Chairman of the Federal Financial Institutions Examina- tion Council (FFIEC). Before his public service, Hood served as Marketing Director and Group Sales Manager for the North Carolina Mutual Life Insurance Company in Durham, North Carolina. He also served as National Director of the Emerging Markets Group for Wells Fargo Home Mortgage and served on the board of the Wells Fargo Housing Foundation. Earlier in his career, he worked for Bank of America as a Community Reinvest- ment Act Officer and completed the Management Development Program at G.E. Capital. In addition to his public and private sector service, Hood served as a member of the University of North Carolina at Chapel Hill Board of Visitors and as a member of the UNC School of Arts Board of Trustees. He also served as a member of the Board of Trustees for the North Carolina Museum of Art and as a member of the Board of Governors for the University of North Carolina College System. Hood's professional awards include being named one of the "40 Young Leaders Under the Age of 40" by the Triangle Business Journal in Raleigh, North Carolina. He is the first recipient of the "Dream Award," an award given by the Wells Fargo Housing Foundation to honor individuals who have exhibited an outstanding commitment to affordable housing. A native of Charlotte, North Caro- lina, Hood holds a bachelor's degree in business, communications, and political science from the University of North Carolina at Chapel Hill. "Rodney Hood's extensive experi- ence and knowledge in financial services and regulation, including as Chairman of the National Credit Union Adminis- tration during the first Trump admin- istration, will serve him well as Acting Comptroller and as a board member of the Federal Deposit Insurance Corpo- ration," Mortgage Bankers Association (MBA) President and CEO Bob Broek- smit, CMB said. "MBA congratulates Rodney Hood on this distinguished appointment, and we look forward to his insights on how to bring more innova- tion to the banking sector and ensuring it serves the needs of all Americans. We will also continue to advocate for changes that would increase banks' participation in the mortgage market, while maintaining a safe and sound bank capital framework. In particular, recalibrating risk-weights for mortgage servicing rights and warehouse lending would both increase bank activity in the space and lower costs for consumers." Hood succeeds Acting Comptroller Michael J. Hsu, who has served in the role since May 10, 2021. "I thank Mr. Hsu for his many years of dedicated public service and his com- mitment to strengthening the resilience of the U.S. banking system," Hood said. HUD TO LAUNCH DOGE TASK FORCE T he U.S. Department of Housing & Urban Development (HUD) will launch a U.S. Department of Government Efficiency (DOGE) Task Force to review how HUD is spending American taxpayer dollars. The task force will be composed of HUD employ- ees who will examine how to best maxi- mize the agency's budget and ensure all programs, processes, and personnel are working together to advance the purpose of the Department. HUD Secretary Scott Turner took to the social media platform X to make the announcement in a 30-second video. The DOGE task force will meet regularly and report its findings and sug- gestions to HUD Secretary Turner. Sec- retary Turner established the task force in accordance with President Trump's Executive Order to maximize govern- mental efficiency and productivity. "HUD will be detailed and deliberate about every dollar spent to serve rural, tribal, and urban communities," Secre- tary Turner said. "Thanks to President Trump's leadership, we are no longer in a business-as-usual posture, and the DOGE task force will play a critical role in helping to identify and eliminate waste, fraud, and abuse and ultimate- ly better serve the American people. We have already identified over $260 million in savings, and we have more to accomplish." DOGE, an initiative of the second Trump administration led by Elon Musk, is not a Cabinet-level department of the DOGE has taken swift action toward its goal of rooting out government fraud, waste, and abuse of taxpayer dollars, having targeted a number of DEI initiatives and federal agencies.