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May 27, 2014 – President Obama announced Friday his nomination of San Antonio Mayor Julián Castro to be Secretary of the Department of Housing and Urban Development and current HUD Secretary Shaun Donovan to be the new director of the White House Office of Management and Budget.

Both Castro and Donovan would have to be confirmed by the Senate before assuming their new positions.

In April, Scott Moriarty, the head of mortgage lending at Affinity Federal Credit Union (N.J.), and Bill O'Brien, CEO of Suffolk Federal Credit Union (N.Y.) – both NAFCU members – attended a roundtable discussion with Housing and Urban Development Secretary Shaun Donovan to discuss housing finance reform. NAFCU has pressed for small institutions to have equal, competitive access to the secondary mortgage market in any future housing finance system, during the ongoing reform debate.

The current head of the OMB, Sylvia Burwell, has been nominated to head the Department of Health and Human Services in the wake of Secretary Kathleen Sebelius' resignation.