Senate Banking Committee Approves Key Housing Finance and Banking Nominations

The Senate Banking Committee on Wednesday approved three of President Trump's nominees for critical housing finance and banking positions, advancing the nominations to the full Senate for consideration. The committee approved Francis Cassidy to serve as FHA Commissioner, Joseph Gormley to serve as Ginnie Mae President, and Travis Hill to serve as permanent FDIC Chair.

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.