HUD

NPR reports on the largely unused Hope for Homeowners program, part of last summer’s housing bill that was meant to address the crisis in mortgage foreclosures.

High loan and interest fees, tough restrictions for consumers and costs to lenders are some of the reasons why the program has not caught on.

President-elect Barack Obama picked Shaun Dononvan, who has vast housing experience including in all facets of the affordable housing markets, to be HUD secretary on Saturday.

Donovan is the current the New York City Department of Housing Preservation and Development commissioner, but he has experience in the non-profit and private sectors and he has been a scholar of housing policy. He’s also worked as an architect.