STATEMENT BY HUD SECRETARY STEVE PRESTON ON THE NOMINATION OF SHAUN DONOVAN

WASHINGTON � U.S. Department of Housing and Urban Development Secretary Steve Preston issued the following statement today on President-Elect Barack Obama's nomination of Shaun Donovan to be the next HUD Secretary.

I congratulate Commissioner Donovan on his nomination to be the next HUD Secretary. HUD and Commissioner Donovan's team at the New York City Department of Housing Preservation and Development have worked very closely to build and preserve affordable housing in New York.

The mission of HUD has never been larger or more important than it is right now, keeping families in their homes, reducing chronic homelessness, and providing affordable housing free from discrimination. As the former acting Commissioner of HUD's Federal Housing Administration, Commissioner Donovan is well aware of the issues facing American homeowners and the need for HUD to continue being a major force in helping stabilize the mortgage market.

Since November, we have been working very closely with President-Elect Obama's team to transfer responsibilities. Commissioner Donovan will take over a Department that is in a better position today than ever before to serve the millions of Americans who count on HUD. There is much work to be done for the American people, and his experience will be important for making this happen. I look forward to supporting Commissioner Donovan as he transitions into this critical role.

HUD continues to meet the nation's housing needs.

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