Key facts
- President Donald Trump nominated Matt Jones for dual roles as HUD assistant secretary and FHA commissioner.
- Jones currently serves as HUD's deputy assistant secretary for single-family housing.
- If confirmed, Jones would oversee FHA mortgage insurance programs managing about $2 trillion in insured mortgages.
- Frank Cassidy stepped down in June and returned to the private sector.
- The Mortgage Bankers Association supports Jones's nomination.
President Donald Trump has nominated Matt Jones to fill the dual roles of assistant secretary for the Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA) commissioner. The nomination, sent to the Senate on Monday, aims to fill the vacancy left by Frank Cassidy, who departed in June.
Jones currently holds the position of HUD’s deputy assistant secretary for single-family housing. If confirmed by the Senate, he would be responsible for the FHA’s single-family, multifamily, and healthcare mortgage insurance programs. The FHA manages approximately $2 trillion in insured mortgages and has seen policy shifts under HUD Secretary Scott Turner.
Cassidy, who stepped down to return to the private sector, focused on streamlining FHA operations, modernizing loss mitigation, and expanding alternative credit reporting during his tenure. He also worked on reducing multifamily mortgage insurance premiums and managing post-pandemic servicing transitions before rejoining Walker & Dunlop in July.
Prior to his role at HUD, Jones held positions at the Mortgage Bankers Association (MBA) as associate vice president of government housing finance, and at Amerifirst Home Mortgage as senior adviser for capital markets. He also served as senior counsel for the Senate’s finance and banking, housing and urban affairs committees.
The MBA has expressed support for Jones's nomination, with President and CEO Bob Broeksmit stating that Jones possesses a strong combination of mortgage industry experience, knowledge of government housing finance, and an understanding of how FHA programs can better serve stakeholders. The organization indicated it would work with HUD and FHA leadership to streamline lending programs, reduce red tape, and lower costs for homebuyers and renters.
If confirmed, Jones will oversee HUD as it navigates recent policy changes, including rescinding a rule that tied FHA and Department of Agriculture new construction loans to 2021 International Energy Conservation Code compliance. HUD also implemented 14 changes to FHA programs in June, easing some appraisal requirements, and formally ended COVID-19-era loss mitigation options in April 2025, replacing them with a permanent suite of tools. Additionally, the FHA will adopt VantageScore 4.0 and FICO 10T credit scoring models starting in January 2027.
The FHA’s Mutual Mortgage Insurance Fund (MMIF) is currently in a strong financial position, holding $188.9 billion in capital at the end of 2025, an increase of $16.1 billion from the previous fiscal year. Over $100 billion of this capital is in cash or cash equivalents, leading some industry participants to advocate for a reduction in FHA mortgage insurance premiums.