Former FHA Commissioner Frank Cassidy reveals his next step

Eric Lee/Bloomberg

Former Federal Housing Administration Commissioner Frank Cassidy has announced his return to his roots in a role that will allow him to build on his experience in government and private industry.

In his position as senior managing director at former employer Walker & Dunlop, Cassidy will use his public policy background to advise clients on FHA and government-sponsored enterprise (GSE) financing strategies in line with company goals.

"Our country continues to face a significant housing shortage, and collaboration between the public and private sectors will be essential to delivering more affordable and workforce housing," said Sheri Thompson, head of affordable housing at Walker & Dunlop, in a press release. 

FHA reduced multifamily mortgage insurance premiums by 25 basis points after Cassidy joined the agency last year, initially in an acting role. He also worked on other policies like eliminating the green mortgage-insurance premium category.

While at the FHA, which is part of the Department of Housing and Urban Development, Cassidy also oversaw a $2 trillion single-family, multifamily, and healthcare mortgage insurance portfolio spanning loans on properties across the country. 

"I'm excited to return to Walker & Dunlop and work alongside our talented team to deliver the financing solutions our clients need to increase housing supply, improve affordability, and connect public policy with private capital," said Cassidy. 

Walker & Dunlop was the top multifamily lender selling loans to government-sponsored enterprise Fannie Mae last year, and the third largest working with Freddie Mac.

Cassidy officially announced he was departing FHA recently after taking a leave of absence. He said he left the position because a lengthening interstate commute was cutting into time spent with his young daughter.