Senate Confirms Key Leaders for FHA, Ginnie Mae, and FDIC

On January 19, the Senate confirmed Frank Cassidy to serve as FHA Commissioner, Joseph Gormley to serve as Ginnie Mae President, and Travis Hill to serve as permanent FDIC Chair as part of a package of administration nominees.

NAR previously sent letters to Chairman Tim Scott and Ranking Member Elizabeth Warren advocating for the swift confirmations of Cassidy, Gormley, and Hill, emphasizing their deep expertise and experience at a time when the U.S. housing market faces a severe affordability crisis. FHA, Ginnie Mae, and FDIC play critical roles in stabilizing and expanding access to housing by insuring loans for low- and moderate-income borrowers (FHA), guaranteeing mortgage-backed securities to attract investment in affordable housing (Ginnie Mae), and safeguarding consumer deposits to maintain trust in the financial system (FDIC). Together, they help ensure the liquidity, affordability, and resilience necessary to address the affordable housing crisis.