On Thursday, the United States Senate confirmed both Frank Cassidy as Assistant Secretary, U.S. Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) Commissioner; and Joe Gormley as President of Ginnie Mae.
“These individuals have already been doing the work – delivering results, strengthening accountability, and advancing HUD’s mission,” said HUD Secretary Scott Turner. “Their Senate confirmation continues to build our outstanding team. These nominees are focused on supporting housing opportunities and improving affordability for the American people. I am proud to have such dedicated and experienced professionals supporting President Trump’s agenda at HUD.”
Since April 2025, Gormley has been serving as executive vice president and chief operating officer of Ginnie Mae, a guarantor of mortgage-backed securities (MBS) backed by government-insured or guaranteed loans. Gormely brings deep institutional knowledge from prior HUD and industry roles.
Gormley will be tasked with overseeing the agency’s strategic initiatives, operational execution, and enterprise risk management efforts, playing a key role in ensuring the effective delivery of Ginnie Mae’s mission to promote stability and access in the U.S. housing finance system.
“I am grateful for the trust the President and Secretary Turner have placed in me,” said Gormley, “I look forward to continuing to deliver on Ginnie Mae’s mission to help more Americans realize the dream of homeownership.”
Gormley has extensive experience in housing policy, regulatory affairs, and financial services. Prior to joining Ginnie Mae, he served in several senior positions at HUD, including Deputy Assistant Secretary for Single-Family Housing at the FHA, and Chief of Staff to the Deputy Secretary. Before his tenure at HUD, Gormley served as assistant vice president and regulatory counsel at the Independent Community Bankers of America (ICBA), where he focused on federal regulatory policy and compliance matters impacting community bankers. He also held positions at the Mortgage Bankers Association (MBA) and the Financial Industry Regulatory Authority (FINRA), where he advised on housing finance and capital markets regulation.
Prior to his Senate confirmation, Cassidy has been serving as HUD’s Principal Deputy Assistant Secretary since April 2025. He has extensive real estate finance experience spanning major advisory firms, with a focus on FHA-insured multifamily lending.
Part of HUD, FHA insures mortgages to reduce lender risk and encourage homeownership — particularly for first-time, low-, and moderate-income buyers. FHA-insured loans are frequently securitized into Ginnie Mae-backed MBS.
“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.”
Prior to joining HUD, Cassidy was a senior managing director of FHA finance at Walker & Dunlop, where he originated loans for multifamily properties, nursing homes, and senior housing. He also held a number of senior leadership roles in the mortgage industry, including at Newmark and Oppenheimer Multifamily Housing & Healthcare Finance.
“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,” said MBA President and CEO Bob Broeksmit, CMB.
