Senate Confirms Frank Cassidy as Assistant Secretary for Housing and Federal Housing Commissioner

The Federal Housing Administration (FHA) is a part of the U.S. Department of Housing and Urban Development (HUD) that insures home and other real‑estate loans made by private lenders. It does not lend money itself. Instead, FHA promises to reimburse approved lenders if a borrower defaults, which lowers the lenders’ risk and lets them offer mortgages more widely (for example, with lower down payments) on single‑family homes, multifamily rental housing, manufactured homes, and certain healthcare and hospital facilities.

Day to day, the Assistant Secretary for Housing and Federal Housing Commissioner:

• Oversees HUD’s Office of Housing and the full FHA mortgage‑insurance portfolio (single‑family, multifamily, and healthcare loans).
• Sets and implements policies, program rules, and operations that affect FHA‑insured homebuyers, homeowners, renters, and healthcare facilities (for example, underwriting standards, servicing and foreclosure rules, risk‑management and technology systems).
• Carries out HUD’s regulatory responsibilities over parts of the housing finance system, including aspects of the Real Estate Settlement Procedures Act, the housing “mission” of Fannie Mae and Freddie Mac, and the manufactured‑housing industry. The article’s description of Cassidy’s role, plus prior descriptions of this position under earlier commissioners, show that the job is essentially the chief executive and risk manager for FHA and HUD’s Office of Housing.

FHA’s three main mortgage‑insurance program areas are:

• Single Family: Insurance on mortgages for one‑ to four‑unit homes (including condos and some manufactured homes). By guaranteeing lenders against losses if borrowers default, FHA encourages lending to many first‑time and lower‑ to moderate‑income buyers who might not otherwise qualify, and it also insures some refinance and rehab loans.
• Multifamily: Insurance on loans for buildings with five or more units (including rental apartments, cooperatives, and certain specialized projects). These programs help finance the construction, substantial rehabilitation, purchase, or refinancing of multifamily rental housing, making long‑term, fixed‑rate financing more available for the rental market.
• Healthcare: Insurance on loans for healthcare facilities, mainly through the Section 232 program (residential care facilities like nursing homes and assisted living) and the Section 242 program (acute‑care hospitals). By lowering borrowing costs for these facilities, FHA supports construction, renovation, and refinancing of healthcare infrastructure.

Saying FHA “supports a $1.9 trillion portfolio” means that the total unpaid principal balance of all active FHA‑insured mortgages (single‑family, multifamily, and healthcare loans combined) is about $1.9 trillion. This figure is a measure of the size of the loans FHA is insuring—not money FHA has lent itself. People affected include: millions of homeowners with FHA‑insured mortgages; renters living in FHA‑insured multifamily properties; and patients and staff in hospitals and long‑term‑care facilities whose buildings were financed using FHA‑insured loans. The portfolio size is tracked and reported in FHA’s insurance‑fund and portfolio reports and is commonly described as being in the $1.7–$1.9 trillion range in recent years.

Frank Cassidy was nominated by President Donald J. Trump. Public records show the nomination (Francis/Frank Cassidy to be Assistant Secretary for Housing and Federal Housing Commissioner) was sent to the Senate on August 1, 2025 and considered by the Senate Banking, Housing, and Urban Affairs Committee at an October 30, 2025 hearing. The HUD press release and secondary coverage confirm that the Senate confirmed him on December 19, 2025, but as of now no official source reports a detailed confirmation vote tally that can be reliably cited, so the exact vote count is not publicly verifiable from high‑quality sources.

The article states that when Cassidy joined HUD in April 2025 as Principal Deputy Assistant Secretary for the Office of Housing and FHA, he “carried out Secretary Turner’s directive to streamline processes, strengthen risk management, and improve how FHA serves its borrowers and private‑sector partners.” Beyond this general description, there is currently no detailed public record of specific process changes, rulemakings, or technology projects directly attributed to him in that role, so the precise reforms he implemented are not documented in available high‑quality sources.