1.Frank Cassidy – Expected FHA Commissioner Nominee

Frank Cassidy is expected to be nominated as FHA Commissioner. Currently serving as a Senior Managing Director at Walker & Dunlop, Cassidy has extensive experience in multifamily and senior housing finance, with a focus on originating FHA-backed loans. While his expertise is primarily in the multifamily space, his leadership at one of the top HUD Multifamily lenders suggests he is well-versed in government lending programs. Since the FHA Commissioner role requires Senate confirmation, the process may take several months before he officially assumes the position.

2.Matt Jones – New Deputy Assistant Secretary for Single-Family Housing

Matt Jones has reportedly been selected as Deputy Assistant Secretary (DAS) for Single-Family Housing at FHA. Jones brings a strong mix of policy and industry experience, having previously served as Associate Vice President of Government Housing Finance at the Mortgage Bankers Association. He also worked on the staff of the Senate Banking Committee and has hands-on mortgage experience from his time at Amerifirst Mortgage in Michigan. Unlike the FHA Commissioner role, the DAS position does not require Senate confirmation, so Jones is expected to begin working at FHA as early as next week. His appointment is encouraging, given his deep knowledge of single-family housing policy and the mortgage industry.

3.Joe Gormley – Expected Ginnie Mae President Nominee

Joe Gormley is anticipated to be nominated as Ginnie Mae President. He currently runs his own firm, Archwell Solutions, but previously served in key housing policy roles, including as Chief of Staff to former FHA Commissioner Brian Montgomery. He later became Deputy Assistant Secretary for Single-Family Housing and also held roles at the Mortgage Bankers Association and the Independent Community Bankers of America (ICBA). Like Cassidy, his appointment requires Senate confirmation, so it could take a few months before he formally steps in. Gormley’s prior experience in both government and industry makes him a strong choice for leading Ginnie Mae, particularly in addressing liquidity concerns and the secondary market.

4.What This Means for the Mortgage Industry

The selections of Matt Jones and Joe Gormley are particularly positive for lenders and mortgage professionals, given their deep expertise in government lending programs and mortgage policy. Both have the ability to immediately understand and address pressing issues in single-family housing finance. Cassidy’s nomination, while bringing strong multifamily experience, raises questions about how he will navigate FHA’s single-family portfolio. With confirmation required for both Cassidy and Gormley, it may take time before key policy changes are implemented.

As these transitions unfold, we will continue monitoring any developments that impact FHA lending, Ginnie Mae’s securitization policies, and overall government-backed mortgage programs. Stay tuned for further updates in the coming weeks.