Frank Cassidy, a Wyndmoor resident, 2008 La Salle College High School graduate, and former assistant secretary of housing for the U.S. Department of Housing and Urban Development, resigned on June 1, The Philadelphia Business Journal reported.
Cassidy accepted an offer to serve as President Donald Trump’s federal housing commissioner in February 2025. He commuted to Washington, D.C. and oversaw a staff of 2,000 people and a $2 trillion mortgage insurance portfolio with the Federal Housing Administration during his tenure.
Prior to his appointment, he was a senior managing director of Federal Housing Administration finance for commercial real estate firm Walker & Dunlop in Philadelphia.
“An opportunity like this really only comes around once in a lifetime,” the Springfield Township native told The Journal, noting that he plans on returning to the private sector soon. “I learned more in the past year than in my entire career just in terms of understanding how the government works at the highest levels, understanding how that HUD building works.”
An excerpt from the article:
In his role at HUD, Cassidy made an effort to bring executives from the largest private lenders across the country to meet in Washington. As part of overseeing loans made for senior housing properties, he interacted frequently with Dr. Mehmet Oz, who ran for Senate in Pennsylvania and now leads the Centers for Medicare and Medicaid Services.
Under Cassidy, FHA eliminated sustainability requirements for multifamily mortgages and created a fast-track review process for qualifying low-risk loans for healthcare properties.
In 2025, Cassidy was named one of The Philadelphia Business Journal’s 40 Under 40. In 2024, he established at his alma mater The Frank Cassidy ’08 Endowment Fund which provides financial assistance to students who have demonstrated financial need, with a preference to young men who are matriculating form St. Genevieve School, Flourtown, or from Springfield Township.
La Salle College High School posted the following after his appointment:
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Photo: U.S. Department of Housing and Urban Development