NRMLA pushes for Senate confirmation of Ginnie Mae’s Gormley, FHA’s Cassidy

The National Reverse Mortgage Lenders Association (NRMLA) and other trade groups issued statements of support this week as they seek to have the Senate confirm two key leaders to federal housing posts.

The letters reference President Donald Trump’s nominations of Joseph Gormley as president of Ginnie Mae and Frank Cassidy as commissioner of the Federal Housing Administration (FHA).

Gormley, who has served with Ginnie Mae as its executive vice president and chief operating officer since April 2025, would become the first permanent president of the government-owned company since Alanna McCargo departed in May 2024. His nomination was initially sent to the Senate banking committee in August.

Cassidy, who joined the U.S. Department of Housing and Urban Development (HUD) in April as its principal deputy assistant secretary, was nominated to lead the FHA in August. The FHA has been without a full-time commissioner since the start of the Trump administration in January, when Julia Gordon left the post.

NRMLA’s endorsements

NRMLA’s letter, signed by President Steve Irwin, was addressed to Senate banking committee leaders Tim Scott (R-S.C.) and Elizabeth Warren (D-Mass.). Irwin wrote that the trade group has “strong and unwavering support” for the nominees.

“Mr. Gormley’s extensive experience and deep understanding of capital markets make him an exceptionally well-qualified candidate to lead Ginnie Mae,” Irwin wrote. “For our industry, Ginnie Mae’s role in guaranteeing Home Equity Conversion Mortgage-Backed Securities (HMBS) is absolutely critical. This guarantee ensures the necessary liquidity and investor confidence required to sustain the Home Equity Conversion Mortgage (HECM) program, which is vital for providing older homeowners with responsible access to their home equity.

“We believe Mr. Gormley possesses the financial acumen and leadership skills necessary to maintain the stability and health of the HMBS program, ensuring it continues to function as a reliable source of credit for the senior demographic.”

Prior to joining HUD, Cassidy had extensive experience in the commercial real estate industry. He was a senior managing director with Walker & Dunlop and also held positions with Newmark Knight Frank, Berkeley Point Capital and Oppenheimer & Co.

Irwin wrote that having Cassidy lead the FHA is “paramount to ensuring effective stewardship of the federal housing programs.” The agency endorsed and insured more than 28,000 HECM loans in fiscal year 2025.

“Mr. Cassidy’s background suggests a commitment to rigorous program management, consumer protection, and the mission of promoting sustainable homeownership and housing stability,” Irwin wrote. “We are confident that he will bring the necessary dedication to managing the Mutual Mortgage Insurance Fund and enhancing the protections and benefits available to seniors utilizing FHA-insured reverse mortgages.”

Senate testimony

NRMLA wasn’t the only trade group to issue support for the nominees this week as the National Housing Conference (NHC) and the National Association of Home Builders (NAHB) also sent letters to Senate leaders.

A committee vote to send the nominations to the full Senate appears imminent as confirmation hearings for Gormley and Cassidy were held Thursday in Washington, D.C.

In his prepared testimony, Gormley mentioned his prior experience at HUD and FHA during the first Trump administration, saying that “we were able to make great strides in improving and making that program more efficient.”

“I also have experience in the private sector serving on the executive team of a large mortgage servicer and I have a good understanding of many of the challenges those companies face,” he said. “… If confirmed as President of Ginnie Mae, I would draw on all these experiences to ensure the organization fulfills its mission of providing low-cost financing and ultimately making the American Dream of homeownership more accessible and affordable for the American people.”

Cassidy’s testimony touched on a personal experience he had with FHA years ago.

“While in college, I planned to rent an off-campus townhouse, but the owner offered me the chance to buy it. With an FHA-insured mortgage and 3.5 percent down, I became a homeowner at 20 years old,” he said.

“That experience gave me a firsthand understanding of the wealth-building power of homeownership, and it’s the kind of opportunity I want to help expand for more Americans. It’s also why I believe so strongly in FHA’s mission. When done right, it’s far more than a lending program — it’s a bridge to ownership, upward mobility, and long-term financial security that helps families build wealth and stability across generations.”