The Community Home Lenders of America (CHLA) released a statement in response to the confirmations.
“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,” he added.
Other trade groups have previously voiced support for the nominations of Gormley, Cassidy and Hill, including the National Housing Conference, the Mortgage Bankers Association (MBA) and the National Reverse Mortgage Lenders Association (NRMLA).
Consumer Bankers Association (CBA) president and CEO Lindsey Johnson released a statement specifically lauding Hill’s confirmation.
“On behalf of America’s leading Main Street banks, we congratulate Travis Hill on his confirmation as FDIC Chair,” Johnson said. “His leadership comes at a pivotal moment as regulators and policymakers work to strengthen the stability, clarity, and predictability of the financial regulatory framework.”
“CBA stands ready to work together on policies that uphold safety and soundness while fostering the innovation and economic growth our nation depends on.”
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 the U.S. Department of Housing and Urban Development (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.
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.
