FHA Commissioner Frank Cassidy steps down

Frank Cassidy is stepping down from his role as Federal Housing Administration (FHA) commissioner and principal deputy assistant secretary for the U.S. Department of Housing and Urban Development (HUD) after a brief temporary leave. His resignation was effective Monday, June 1.

“I’m excited to return to the private sector and get back to my passion of doing deals,” Cassidy said in a social media post on Friday. “I look forward to continuing to be a voice for the Trump Administration’s housing agenda from the outside, supporting efforts to make housing more affordable for American families.”

Cassidy joined HUD in April 2025 and was confirmed by the Senate in December, alongside the confirmation of Joe Gormley as Ginnie Mae‘s new president. Prior to his departure, Cassidy took a temporary leave of absence in April due to family matters.

A spokesperson for HUD did not immediately respond to HousingWire‘s request for comment or provide information on how the position will be filled moving forward.

Before joining the department, Cassidy was a senior managing director at Walker & Dunlop, a commercial real estate finance and advisory services firm. He also previously held positions at Newmark Knight Frank, Berkeley Point Capital and Oppenheimer & Co. His appointment to HUD was supported by mortgage trade groups.

Reflecting on his tenure, Cassidy highlighted several key FHA policy changes.

“In just over a year, our team modernized FHA, cut red tape, reduced costs, accelerated processing times, and strengthened one of the largest financial institutions in the world — a portfolio responsible for $2 trillion in mortgages,” he noted in his post.

Specifically, Cassidy pointed to the reduction of multifamily mortgage insurance premiums to the statutory minimum of 25 basis points across all multifamily loan programs; the modernization of the FHA’s single-family loss-mitigation waterfall; and the agency’s announcement that it would adopt VantageScore 4.0 and FICO 10T.

Cassidy told Politico that he’s looking for opportunities to rejoin the private sector and plans to continue advocating for the passage of bipartisan housing affordability legislation.