STATEMENT OF R. HUNTER CUSHING Before the Housing and Employment Subcommittee June 29, 1989 Attachment 47 Mr. Chairman and Members of the Committee: Thank you for the opportunity to appear before your Subcommittee today. From February 1986 to March 1989, I worked at the Department of Housing and Urban Development as Deputy Assistant Secretary for Multi-Family Housing Programs. I served first under Acting Assistant Secretary Silvio deBartolomeis, and thereafter under Assistant Secretary Thomas Demery. This part of the Department was responsible for all FHA Multifamily Insurance and Coinsurance programs, management of 17,000 HUD-insured mortgages comprising two million units, management of 1700 Departmental-held or -owned mortgages, as well as at least eight major funding programs of about $5 billion in funding authority, including Housing Vouchers, Loan Management Set Asides, Flexible Subsidies, Section 202 units for the elderly, Housing Development Grants and Moderate Rehabilitation units. While the level of funding for Moderate Rehabilitation units was being reduced, the funding for Vouchers was being increased and other programs, except Housing Development Grants, remained stagnant. Although Moderate Rehabilitation involved a large federal outlay, in relative terms it was not considered a major program under my jurisdiction. Most of my time was spent developing the Coinsurance program, increasing the number of Housing Vouchers under lease and implementing new policies for managing the HUD-insured held and -owned portfolio. considerable time implementing new regulations and policies, improving competitive programs, and making programs more cost I also spent |