NAR sent letters to Chairman Tim Scott and Ranking Member Elizabeth Warren of the Senate Banking Committee advocating for the swift confirmations of Francis Cassidy to serve as the Assistant Secretary of Housing and Federal Housing Administration (FHA) Commissionerpdf at the Department of Housing and Urban Development (HUD); Joseph Gormley to serve as President of Ginnie Maepdf at HUD; and Travis Hill to serve as Chairperson of the Board of Directors Designatepdf at the Federal Deposit Insurance Corporation (FDIC). The confirmation hearing was held on Thursday, October 30.
Each nominee brings deep expertise and experience tailored to their role, enabling thoughtful and steady leadership at a time when the U.S. housing market faces a severe affordability crisis, with limited supply putting homeownership out of reach for many Americans. 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.