Trump Nominates Mortgage Expert Matt Jones to Lead FHA

The White House has nominated mortgage expert Matt Jones to lead the Federal Housing Administration (FHA) and serve as assistant secretary of the U.S. Department of Housing and Urban Development (HUD). Jones's nomination requires Senate confirmation for a permanent role. He is set to replace Frank Cassidy, who expressed a desire for his successor to reduce regulatory hurdles. Currently, Jones holds the position of deputy assistant secretary for Single Family Housing at HUD, where he has been instrumental in significant initiatives. These include the modernization of HUD codes for manufactured housing and the overhaul of the FHA's single-family mortgage insurance program. Furthermore, he oversees HUD's insurance-in-force portfolio, which encompasses 8 million loans with a principal balance exceeding $1.6 trillion. Prior to his tenure at HUD, Jones served as the associate vice president for Government Housing Finance at the Mortgage Bankers Association (MBA). His career reflects extensive experience in both the private sector and government, beginning as a mortgage loan originator at Amerifirst Home Mortgage in Michigan. He advanced to the role of senior advisor for capital markets at Amerifirst from 2017 to 2021. Jones also contributed as counsel to the Senate Banking Committee and the Senate Finance Committee, playing a role in drafting and negotiating legislation. His nomination has received endorsements from prominent industry organizations, including the MBA, the National Association of Realtors, the National Housing Conference, and the National Council of State Housing Agencies. Bob Broeksmit, President and CEO of the MBA, stated that Matt brings a valuable combination of hands-on mortgage industry experience, profound knowledge of government housing finance, and a strong grasp of how FHA programs can better support homebuyers, renters, and lenders. In his advocacy for FHA modernization, Jones has emphasized the importance of reducing regulatory burdens to encourage broader participation from financial institutions in the housing market. Speaking at a housing summit hosted by the Bipartisan Policy Center in June, he highlighted the necessity for HUD to simplify processes for financial institutions of all sizes.