Ginnie Mae’s Alanna McCargo is leaving the company and returning to private life, the Department of Housing and Urban Development announced.
McCargo, who has served a president of the Government National Mortgage Association (Ginnie Mae) since January 2022, called the move a “deeply personal decision.”
“The past 3.5 years in public service with the Biden-Harris Administration has been the most important and fulfilling work of my 25-year career in housing finance and I am deeply grateful for the opportunity to serve my country and advance a bold housing agenda across the globe as President of Ginnie Mae,” she said in a statement.
Her resignation will go into effect on May 1.
Principal Executive Vice President Sam Valverde will serve as…
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Alanna McCargo has officially been sworn in as the 18th president of Ginnie Mae, becoming the first Senate-confirmed president in five years and the first woman to hold the position. The position has remained empty since 2017 when Obama-appointed president Toed Tozer stepped down. The interim presidents who followed him, Michael Bright and Maren Kasper, both stepped down to take other positions in the private sector. McCargo was nominated in September of 2021 and confirmed by the Senate in December 2021. “It is an honor to lead Ginnie Mae through its next phase of transformation, ensuring our MBS remains a secure, nimble, and reliable vehicle to support the U.S. mortgage market and continues to make affordable homeownership and rental housing…
