Reverse industry rep reappointed to role on HUD housing counseling committee

Carol Dujanovich, senior vice president and director of reverse mortgages at University Bank, has been reappointed to a new three-year term as a member of the U.S. Department of Housing and Urban Development (HUD) Housing Counseling Federal Advisory Committee (HCFAC).

The committee is designed to advise HUD “by helping shape the direction of its Housing Counseling Program and providing guidance on how to better serve prospective buyers, homeowners, and renters with their housing needs,” the department said in a statement.

Housing counseling is a critical element of the Federal Housing Administration (FHA)’s Home Equity Conversion Mortgage (HECM) program. Prospective borrowers are required to attend a HECM counseling session with a HUD-certified counselor prior to closing their reverse mortgage.

Dujanovich was first appointed to HCFAC in late 2021. She told RMD at that time that she hoped to illuminate the realities of reverse mortgage lending for her colleagues on the committee. Dujanovich is one of four returning members to HCFAC for the new term that begins in January, and an additional seven appointments were made to fill out the 11-person committee.

“I am so proud to be able to continue to serve on the Housing Counseling Federal Advisory Committee for another three years,” Dujanovich said when reached by HousingWire’s Reverse Mortgage Daily (RMD). “By serving on this committee on behalf of the reverse mortgage industry, I feel that I will be able to bring forward what issues our seniors face daily.”

These include the ways in which reverse mortgage counseling is delivered and how seniors can find needed assistance for aging in place, she said.

“We have made strides; however, we still have a lot of work to do and I am privileged to accomplish positive results,” she added.

David Berenbaum, HUD’s deputy assistant secretary of housing counseling, expressed well wishes and gratitude to both the incoming and outgoing committee members.

“We are excited to collaborate with the Committee to drive our mission forward and provide consumers with vital resources to secure, uphold, and preserve their homes,” Berenbaum said in a statement. “We’d also like to express our appreciation to the departing members for sharing their expertise to foster the impact of housing counseling providers nationwide.”