NRMLA’s Support for Nominees
Ginnie Mae’s executive vice president and chief operating officer, Gormley, is set to become the first permanent president of the company since McCargo’s departure in 2024. His nomination was sent to the Senate banking committee in August. On the other hand, Cassidy, who recently joined HUD as its principal deputy assistant secretary, was nominated to lead the FHA in August.
NRMLA’s President, Steve Irwin, expressed strong support for both nominees, highlighting Gormley’s expertise in capital markets and Cassidy’s commitment to effective program management and consumer protection. Irwin emphasized the importance of Ginnie Mae’s role in guaranteeing Home Equity Conversion Mortgage-Backed Securities (HMBS) and FHA’s mission of promoting sustainable homeownership.
In his prepared testimony, Gormley discussed his experience at HUD and FHA, focusing on improving program efficiency. Cassidy shared a personal anecdote about becoming a homeowner at a young age with the help of an FHA-insured mortgage, underscoring the wealth-building power of homeownership.
Trade Group Support and Senate Hearings
NRMLA, NHC, and NAHB all issued letters of support for the nominees, with confirmation hearings held in Washington, D.C. Gormley and Cassidy’s testimonies highlighted their commitment to fulfilling the organizations’ missions and expanding opportunities for Americans to achieve homeownership.