President Donald Trump nominated Frank Cassidy to serve as Federal Housing Administration (FHA) commissioner on Aug. 2.
Cassidy has overseen the agency in an acting capacity since April when he was appointed to serve as principal deputy assistant secretary of housing at the U.S. Department of Housing and Urban Development (HUD).
Mortgage Bankers Association (MBA) President and CEO Bob Broeksmit released a statement welcoming Cassidy’s nomination.
“MBA enthusiastically supports the Trump administration’s nomination of Frank Cassidy to serve as assistant secretary of housing and FHA commissioner,” Broeksmit said. “His extensive experience in real estate finance at Walker & Dunlop, Newmark, and Oppenheimer & Co. Inc. provides him with compelling insights on how to make FHA’s single-family and multifamily programs less costly and more innovative and competitive.
“We will work with him, HUD Secretary Scott Turner, and HUD staff on continuing the meaningful reforms that boost housing supply, make owning and renting a home more affordable, and address the challenges and opportunities within the agency, including modernizing FHA’s IT systems and processes,” he added.
Cassidy spent nearly six years in executive roles at the commercial real estate finance company Walker & Dunlop and held vice president roles at Newmark Knight Frank and Berkeley Pointe Capital LLC before that.