Utah Housing CEO Resigns Amid 7% Mortgage Rates
The state housing agency will conduct a nationwide search for a new leader to manage programs for low-income residents.
Updated on Oct. 23, 2026 in Residential
Live Poll
Do you believe state housing programs effectively increase homeownership opportunities in your community?
Utah Housing Corporation president and CEO David Damschen has submitted his resignation. He will remain in the role until the organization completes a nationwide search for his successor.
Why it matters
The leadership change arrives as the state agency manages critical programs for first-time homebuyers and low-income residents amid a challenging housing market. With Utah mortgage rates currently exceeding 7%, the transition will influence the direction of state-led housing support.
The outgoing CEO earned an annual salary of over $300,000 while overseeing an independent entity currently operating in a climate where mortgage rates exceed 7%. The organization's programs are vital for low-income residents and first-time buyers statewide.
The players
David Damschen
The outgoing president and CEO of the Utah Housing Corporation who earned an annual salary of over $300,000.
Utah Housing Corporation
An independent state agency that administers first-time homebuyer programs, low-income homeownership initiatives, and multifamily development tax credits.
Harris Simmons
The board chair of the Utah Housing Corporation who took office in June 2026.
The details
The Utah Housing Corporation operates as an independent state entity that facilitates affordable housing through tax credits for multifamily developments and specialized programs for low-income homeownership. As the search for a new leader begins, Damschen will continue his duties to ensure stability in program administration. The board, now led by chair Harris Simmons, is tasked with identifying new leadership to guide these programs through current elevated interest rate environments.
Timeline
May 2021: David Damschen began his tenure as president and CEO.
June 2026: Harris Simmons was appointed board chair.
October 23, 2026: The resignation of David Damschen was announced.
Money Landscape
This leadership transition occurs as state housing entities across the country navigate the long-term impact of elevated interest rates on development feasibility. The Utah Housing Corporation remains a primary driver of state-level housing policy, setting the tone for regional affordability efforts.
Residents currently utilizing or applying for state-sponsored homebuyer or low-income programs should monitor official agency updates for any policy shifts. Because the organization is in a transition period, it is a prudent time to verify current program requirements with a qualified professional before submitting applications.
The takeaway
The departure of a long-term leader in the housing sector underscores the importance of monitoring how state agencies adapt to high-interest environments. Homebuyers and renters should track the official Utah Housing Corporation website for upcoming changes in program availability or administrative leadership.
Further reading
For more updates on the state housing market, visit Residential.
Live Poll
Do you believe state housing programs effectively increase homeownership opportunities in your community?
