During a speech in the Rotunda Dome Room Friday, Andrew Cuomo, U.S. secretary of Housing and Urban Development, announced plans to implement a computer program designed to make it easier to buy a home.
Cuomo said the new system will help make the process of procuring a mortgage less mysterious and more accessible to all Americans -- not just those who are already financially knowledgeable -- by using an electronic scorecard to evaluate what qualifications a borrower has for obtaining a mortgage.
He said the initiative will "protect the integrity of the home-buying process."
He added that he hopes the new initiative will not serve as an end to HUD's partnership with the private sector, but instead will be a "foundation for further dialogue."
HUD should continue to play an important role in national politics, Cuomo said.
He said sometimes HUD is neglected when the government is developing the budget, and serves as a "piggy bank" for other areas of the government.
HUD has an obligation to find the "best ways to improve housing opportunities for all Americans," he added.
The speech was co-sponsored by Mortgage Bankers Association of America and the University's Center for Governmental Studies.
Larry J. Sabato, Center director and government and foreign affairs professor, said the University was an appropriate place for Cuomo to make the announcement.
"This kind of governmental program is uniquely Jeffersonian," Sabato said.
He said the program is "very innovative" and involves a "public-private partnership."
The program will help college students as they move into the realm of finance, he added.
Sabato said HUD helped fund the restoration of the Rotunda about 25 years ago, so it was appropriate for Cuomo to choose the Dome Room as the site for his announcement.
Cuomo has made his intentions to run for national office clear, he said.
He added that Cuomo's famous connections aid him in his quest for higher office. He is married to the daughter of Robert F. Kennedy and is the son of former New York Gov. Mario Cuomo (D).
Head Center intern Dan Payne also attended the speech.
Payne said he admires Cuomo for "turning HUD around" and making it a "credible organization" again.
Read More
Honor Committee plans Dorm Talks and finals week initiatives
By Lexie Stadler | YesterdayIn an effort to enhance student outreach and introduce incoming students to the Honor System, the Committee will reintroduce Dorm Talks in the Fall 2024 semester.
BREAKING: Two fraternities suspended, one terminated after hazing allegations
By Ford McCracken | 2 days agoThe University’s chapter of Pi Kappa Alpha is the founding chapter of the fraternity, which was founded in West Range room 47 in 1868.
From the archives: April 22 – April 28
By Maisy Callahan and Grace Franklin | 2 days agoThose opposed to the Mall feared closing Main St. would create inconvenience and traffic, which would in turn decrease the income made by merchants.
