“I
am
very
happy
to
see
Joe
Gormley
take
the
helm
at
Ginnie
Mae
as
Executive
Vice
President
and
Chief
Operating
Officer,”
said
Scott
Turner,
secretary
of
the


U.S.
Department
of
Housing
and
Urban
Development
(HUD).
“With
Ginnie
Mae’s
central
role
in
mortgage
financing,
his
leadership
will
bring
stability
and
strength
to
this
segment
of
the
housing
market.”

Gormley
is
a
housing
veteran
of
the
first
Trump
administration,
having
joined
the


Federal
Housing
Administration
(FHA)
and
HUD
in
2017.
He
previously
served
as
chief
of
staff
to
the
then-FHA
Commissioner
Brian
Montgomery
—
a
position
that
placed
him
as
the
principal
adviser
to
the
commissioner
and
other
senior
HUD
leaders
on
policy,
priority
initiatives,
strategic
planning
and
resource
management.

Prior
to
his
initial
stint
working
in
the
federal
government,
Gormley
served
as
assistant
vice
president
and
regulatory
counsel
at
the

Independent
Community
Bankers
of
America
(ICBA).
He
served
there
as
a
policy
lead
on
legal
and
regulatory
issues,
including
consumer
financial
protection
laws.

Gormley
has
also
served
as
associate
regulatory
counsel
for
the


Mortgage
Bankers
Association
(MBA),
and
he
worked
for
the
Office
of
Fraud
Detection
and
Market
Intelligence
at
the

Financial
Industry
Regulatory
Authority
(FINRA). 

In
January
2020,
near
the
end
of
the
first

Trump
administration,
Gormley
was

appointed
to
serve
as
the
FHA’s
deputy
assistant
secretary
of
single-family
housing.

“I
am
honored
to
join
Ginnie
Mae
and
contribute
to
its
important
mission,”
Gormley
said
in
a
statement.
“I
look
forward
to
working
with
the
dedicated
team
at
the
agency
to
strengthen
and
enhance
the
role
of
the
MBS
program
in
serving
homeowners
and
renters
across
the
country.”

Ginnie
Mae
currently

remains
without
a
permanent
president.
Gregory
Keith
continues
to
serve
in
the
role
on
an
acting
basis,
but
the


White
House
has
yet
to
nominate
a
candidate
for
the
full-time
leadership
position.