SitusAMC's Head of Industry Relations, Tim Rood, recently spoke with Brian Montgomery, former Deputy Secretary of the U.S. Department of Housing and Urban Development (HUD) for the "On the Hill" podcast. The two discuss policy under the Biden administration, as Rood asks Montgomery about "myths, misconceptions, and facts about the policy-making process in Washington, D.C. and what the industry needs to understand to influence the housing finance landscape.
“If you’re looking to move the needle on a policy you’ve got a lot of moving parts,” Montgomery said, including whether the issue is a priority for a particular agency, was a campaign promise, or can achieve funding approval. “Be eyes wide open to the fact that it could be a very long process.”
Montgomery adds that a policy is not necessarily "bad" or "good" idea just because a Republican or just because a Democrat came up with it. He stresses his hope that policy won't be undone due to "campaign slogans."
"Slow down and take a look at the policy"—he essentially advises law- and rule-makers to not allow politics to get in the way of good policy, along with other valuable insights.