The U.S. Senate on Friday confirmed Travis Hill as chairman of the Federal Deposit Insurance Corporation; Frank Cassidy as assistant secretary for the Department of Housing and Urban Development and commissioner of the Federal Housing Administration; and Joe Gormley as president of Ginnie Mae – all Trump appointees who will now aim to bring affordability and stability to the housing market.
“MBA congratulates Travis Hill, Frank Cassidy, and Joe Gormley on their well-deserved and important confirmations,” says Bob Broeksmit, chairman and CEO for the Mortgage Bankers Association, in a statement. “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.”
Shannon McGahn, executive vice president and chief advocacy officer for the National Association of Realtors, says the new appointees “bring experienced, steady leadership to some of the most critical pillars of our nation’s housing finance system.”
“FHA and Ginnie Mae play a central role in expanding access to homeownership, especially for first-time, low- and moderate-income buyers, and in maintaining stability across the mortgage market while the FDIC ensures reliability, security, and consumer protections in the banking industry,” McGahn says in a statement. “We look forward to working closely with Assistant Secretary Cassidy, President Gormley, and Chairperson Hill to strengthen these programs, ensure responsible access to credit, and advance policies that increase housing supply and affordability for families across the country.”
Photo: Louis Velazquez
