The US Senate confirmed President Trump’s nominees Joseph Gormley to become the next president of Ginnie Mae, Frank Cassidy as assistant secretary at the Department of Housing and Urban Development and commissioner of the Federal Housing Administration (FHA), and Travis Hill to become chairman of the Federal Deposit Insurance Corporation (FDIC).
Gormley has been executive vice president and chief operating officer of Ginnie Mae since April. He previously several senior positions at the Department of Housing and Urban Development (HUD), including deputy assistant secretary for single family housing at the FHA and chief of staff to the deputy secretary. Prior to HUD, he served as assistant vice president and regulatory counsel at the Independent Community Bankers of America.
Cassidy has been principal deputy assistant secretary at HUD since April. He was previously senior managing director at Newmark, and earlier in his career he held vice president positions at Newmark Knight Frank and Berkeley Point Capital.
Hill has been serving as acting chairman since Jan. 20 and briefly served as vice chairman from Jan. 5 to Jan. 20. From 2018 to 2022, he was a senior advisor to the FDIC chairman and later deputy to the chairman for policy. The previous chairman, Martin Gruenberg, was the subject of a 2024 investigation that determined the agency encouraged a workplace environment of sexual harassment, discrimination, and bullying. Gruenberg, a Democrat, balked at resigning in favor of the Republican Hill and stated he would remain in office until a successor was named by then-President Biden and confirmed by the Senate. Gruenberg left office one day prior to Trump’s presidential inauguration.
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