Dive Brief:
- The Trump administration has nominated Matt Jones to be assistant secretary of HUD and commissioner at the Federal Housing Administration, which underwrites and insures government-backed mortgages, according to a Sept. 14 filing. Several housing industry organizations have voiced their support for his nomination.
- Jones is currently deputy assistant secretary for single-family housing at HUD, where he has worked for more than a year and a half. He has spent much of his career in the mortgage industry and in government housing finance.
- If confirmed by the Senate, Jones would oversee the FHA’s single-family, multifamily and healthcare mortgage insurance programs, replacing Frank Cassidy, who stepped down from the post in June to rejoin Walker & Dunlop. Ginnie Mae President Joseph Gormley has been filling the role on an interim basis since then.
Dive Insight:
In a June housing panel hosted by the Bipartisan Policy Center, Jones expressed support for efforts to make it easier for lenders to participate in FHA programs and policies to bolster manufactured housing. That same day, the FHA announced 14 policy changes to its single-family mortgage insurance program that aim to reduce regulatory burden.
Prior to joining HUD, Jones was associate vice president of government housing finance at the Mortgage Bankers Association, according to his LinkedIn. He also worked at Amerifirst Home Mortgage and the U.S. Senate Committee on Banking, Housing, and Urban Affairs.
The Mortgage Bankers Association “enthusiastically supports” Jones’ nomination, and said in a Sept. 15 release that he would bring “an impressive combination of hands-on mortgage industry experience, deep knowledge of government housing finance, and a strong understanding of how FHA programs can better serve homebuyers, renters, and lenders.”
The National Apartment Association also supports Jones, according to Nicole Upano, AVP, Housing Policy and Regulatory Affairs, and his “record of accomplishment and leadership across our nation’s housing ecosystem makes him a strong fit for this role, especially as the landmark 21st Century ROAD to Housing Act enters its critical implementation phase.”
“NAA looks forward to working alongside Mr. Jones to continue advancing lasting and meaningful pro-housing solutions across the country,” Upano told Multifamily Dive in an email.
Other real estate organizations that have also announced support include the National Association of Realtors, the National Housing Conference and the National Council of State Housing Agencies.
Jones’ nomination has been sent to the Committee on Banking, Housing, and Urban Affairs, which will schedule a nomination hearing. He would assume the second-in-command role at HUD as Secretary Scott Turner makes major changes to the agency.
For example, in May HUD updated environmental review requirements for multifamily housing projects and eliminated provisions that increased costs and complexity for lenders and developers. Earlier this month, the agency set a one-year deadline to file an accessibility violation complaint regarding multifamily housing design and construction under the Fair Housing Act. HUD is currently mulling changes to its implementation of the Fair Housing Act's Disparate Impact Standard.
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