MBA Supports Nominations of Joe Gormley, Jack Cassidy to Lead Ginnie Mae and Federal Housing Administration

MBA President and CEO Bob Broeksmit, CMB, released two statements over the weekend supporting the nomination of Joe Gormley to serve as President of Ginnie Mae and Jack Cassidy to be Commissioner of the Federal Housing Administration.

Regarding Gormley, Broeksmit had this to say:

“Joe Gormley is an outstanding choice to serve as the next Ginnie Mae President. MBA overwhelmingly supports his nomination and believes his deep experience in housing finance policy, including in senior roles at Ginnie Mae, the Department of Housing and Urban Development, and MBA, make him well-qualified to lead the agency’s mission of ensuring mortgage market liquidity, sustainability, and affordability.” 

“We will work with Joe Gormley, HUD Secretary Scott Turner, and their staffs on policies and initiatives that modernize the agency’s technology to improve overall issuer experience, increase liquidity for Ginnie Mae mortgage-backed securities, promote affordable homeownership and rental housing, and bring more private capital to the housing finance system.” 

Broeksmit said MBA “enthusiastically supports” the Trump administration’s nomination of Frank Cassidy to serve as Assistant Secretary of Housing and FHA Commissioner.

“[Cassidy’s] 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,” Broeksmit said.

“We will work with him, Department of Housing and Urban Development 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.”