Housing Secretary Mel Martinez is leaving his cabinet post Friday as he prepares to run for a U.S. Senate seat in his home state of Florida.The secretary announced that his resignation will be effective at noon on Friday. But he did not make any reference to his run for the Senate. It is unclear when he will announce his candidacy. However, White House political officials have been urging the Cuban-born attorney and former Florida county executive to run for the Senate because they believe he would help President Bush win the state in his 2004 re-election campaign. Deputy Secretary Alfonso Jackson will take over as acting secretary of the Department of Housing and Urban Development. "It has been a great privilege to serve in the president's cabinet and lead the 9,300 hard-working employees of HUD," Secretary Martinez said. "Together we have expanded homeownership opportunities for more Americans and helped countless others find affordable housing in the communities of their choice."
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The Housing for the 21st Century Act includes provisions covering policy, manufactured homes and rural infrastructure introduced in a prior Senate proposal.
February 6 -
Mortgage loan officer licensing saw its first rise since 2022 as Fannie Mae projects $2.4T in 2026 volume. Experts eye a market reset amid improving affordability.
February 6 -
The FHFA chief told Fox an offering could be done near term - but may not be - while a Treasury official addressed conservatorship questions at an FSOC hearing.
February 6 -
The secondary market regulator will formally publish its own rule on Feb. 6, after a comment period and without making changes to what it proposed in July.
February 6 -
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
February 5 -
The mortgage technology unit at Intercontinental Exchange posted a profit for the third straight quarter, even as lower minimums among renewals capped growth.
February 5




