Senate Confirms Top Leaders For Hud, Ginnie Mae And Fdic

On Thursday evening, the Senate confirmed Frank Cassidy as the next Federal Housing Administration (FHA) commissioner and the assistant secretary for housing, Joe Gormley as Ginnie Mae‘s new president, and Travis Hill as chairman of the Federal Deposit Insurance Corp. (FDIC).

The confirmations follow the Senate Committee on Banking, Housing and Urban Affairs advancing the nominations last month to a full Senate vote. Confirmation hearings for the candidates were held in late October.

In a separate announcement, the Department of Housing and Urban Development (HUD) said several additional nominees were confirmed: Benjamin Hobbs as assistant secretary for Public and Indian Housing (PIH); Ronald Kurtz as assistant secretary for Community Planning and Development (CPD); David Woll as HUD general counsel in the Office of General Counsel (OGC); Benjamin DeMarzo as assistant secretary for Congressional and Intergovernmental Relations (CIR); and Craig Trainor as assistant secretary for Fair Housing and Equal Opportunity (FHEO).

The Mortgage Bankers Association’s President and CEO Bob Broeksmit shared a statement in response to the confirmations.

“MBA congratulates Travis Hill, Frank Cassidy, and Joe Gormley on their well-deserved and important confirmations,” he said. “We will continue to work with these accomplished leaders and their staffs to streamline regulations, strengthen the mortgage market, boost bank participation in real estate finance, expand access to homeownership and rental housing, and promote policies that make housing more affordable for homeowners and renters nationwide.”  

Lindsey Johnson, president and CEO of the Consumer Bankers Association, specifically congratulated Hill on his appointment.

“On behalf of America’s leading Main Street banks, we congratulate Travis Hill on his confirmation as FDIC Chair. His leadership comes at a pivotal moment as regulators and policymakers work to strengthen the stability, clarity, and predictability of the financial regulatory framework,” Johnson said.

The National Reverse Mortgage Lenders Association (NRMLA) and the Community Home Lenders of America (CHLA) also offered congratulatory statements.

“We applaud the Senate for officially confirming Mr. Gormley and Mr. Cassidy to their leadership roles at HUD,” says NRMLA President Steve Irwin. “Both men are firmly committed to the success of HECM and HMBS, and we look forward to working with them both to ensure the long-term sustainability of these critically important programs.”

“Affordable homeownership took a big step forward today with the Senate confirmations of Frank Cassidy to run FHA and Joe Gormley to run Ginnie Mae,” said Scott Olson, executive director for CHLA. “Addressing concerns over spiraling housing costs has become one of Washington’s biggest priorities – and it is reassuring to know that these highly qualified individuals are now confirmed for these two critical positions.”

The FHA has been without a full-time commissioner since Julia Gordon, who led the agency during the Biden administration, stepped down around the time of Donald Trump’s inauguration in January.

Cassidy joined HUD in April as principal deputy assistant secretary, and he was nominated to lead the FHA in August. He previously worked in commercial real estate finance, with roles at Walker & Dunlop, Newmark Knight Frank and Berkeley Point Capital.

“I am deeply grateful for the trust President Trump and Secretary Turner have placed in me,” said Cassidy. “Under Secretary Turner’s leadership, we will continue modernizing FHA, supporting responsible homeownership, increasing housing supply, and strengthening partnerships with the private sector to deliver for American families.”

Gormley, who served at HUD and the FHA during Trump’s first term, joined Ginnie Mae in April as executive vice president and chief operating officer. He also previously served as associate regulatory counsel for the Mortgage Bankers Association and worked in the office of fraud detection and market intelligence at the Financial Industry Regulatory Authority (FINRA). 

Gormley’s appointment makes him the first permanent president of Ginnie Mae since Alanna McCargo stepped down in May 2024.

Sam Valverde succeeded her as acting president but resigned late last year, shortly after Trump won a second term. Gregory Keith was named acting president after Valverde’s departure.