Former HUD Inspector General Ken Donohue Delivers Tough Message at Mortgage Bankers Annual Convention

by 13 Oct 2011
BETHESDA, Md. Oct. 13, 2011 Reznick Government Principal and former HUD Inspector General Ken Donohue spoke at the 98th annual Mortgage Bankers Association convention in Chicago earlier this week. Other speakers included current HUD Secretary Shaun Donovan, political strategist David Axelrod and former Fla. Governor Jeb Bush.   Speaking on the loss of public trust in the mortgage banking industry, Donohue focused on the need to shift from blame to solutions, “Consumers, mortgage bankers, and legislators all blame each other for the crisis. We need to come up with solutions, not fixate on blame. Earning back public trust has to start with the mortgage banking industry.”  Expanding on the need to take action, Donohue continued, “The industry must be proactive in its response to unexpected developments in order to lessen the negative consequences of change, monitor and hold itself accountable, and set up meaningful transparency to soothe the apprehensive public.”   The convention was held at the Hyatt Regency in Chicago from October 9th thru 12th.  The event featured educational content, industry and political experts, world class speakers, and networking opportunities. A complete transcript of Mr. Donohue’s speech is available.   About Ken Donohue Mr. Donohue was the inspector general for HUD from 2002 until 2010. He was appointed to the position by President George W. Bush, following the attacks of September 11. At his post, he monitored the Lower Manhattan Development Corporation, which distributed some of the federal money spent on the recovery in New York City. He also oversaw new HUD offices opened in the Gulf region following Hurricane Katrina, and monitored and tracked the government’s aid efforts in Louisiana, Mississippi and Texas. His next noteworthy project was Operation Stolen Dreams, an effort he led that garnered more than 1500 arrests and $200 million in recoveries for mortgage fraud. Prior to that, he had a distinguished career in the Secret Service. Mr. Donohue is a frequent keynote speaker on the topics of housing, mortgage fraud, security, disaster preparedness and management and the prevention of government waste, fraud and abuse.


Reznick Government

Reznick Government provides accounting, business advisory and financial services to federal, state and local governments, as well as public sector contractors. The firm’s experience includes audit, accounting and financial services, disaster program management, risk assessments, compliance and monitoring, and the design and implementation of technology solutions. The firm employs a comprehensive project management approach that provides clients with repeatable and reliable processes and delivers government services accounting insights that help government organizations improve communication, administer fiscal and operational strategies and meet compliance requirements.   Reznick Group Reznick Group is a top-20 national accounting, tax and business advisory firm founded in 1977 and headquartered in Bethesda, Maryland. The firm maintains offices nationwide.


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