Ginnie
Mae
President
Alanna
McCargo
is
resigning
from
her
position
at
the
government-owned
company
effective
May
3,
according
to
an

announcement
issued
Friday
by
the


U.S.
Department
of
Housing
and
Urban
Development
(HUD).

Ginnie
Mae
principal
executive
vice
president
Sam
Valverde
will
serve
as
acting
president
of
the
company
upon
her
departure.

“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,”
McCargo
said
in
a
statement.

“I
am
incredibly
proud
of
what
we
have
accomplished
together
and
grateful
for
the
housing
leadership
this
Administration
and
agency
have
demonstrated
since
our
first
day
in
office.
This
has
been
a
deeply
personal
decision
to
return
to
private
life.”

She
went
on
to
commend
the
team
of
career
public
servants
employed
at
the
company,
adding
that
she
is
“pleased
with
the
progress
and
accomplishments
Ginnie
Mae
has
achieved
during
my
tenure,
the
precision
with
which
the
team
executes
on
our
obligations
and
authorities,
and
the
groundwork
that
we
have
laid
for
Ginnie
Mae
to
grow
and
build
the
capacity
needed
to
meet
its
crucial
affordable
housing
and
capital
markets
mission
on
behalf
of
the
United
States
Government.”

McCargo’s
resignation
follows
soon
after
the

departure
of
Marcia
Fudge
as
HUD
secretary,
which
was
similarly
announced
shortly
before
the
resignation
took
effect.

HUD
acting
secretary
Adrianne
Todman
thanked
McCargo
for
her
service.

“In
her
time
at
the
agency,
she
has
been
a
zealous
advocate
for

housing
affordability
and
ensuring
a
more
equitable
housing
finance
system,”
Todman
said
in
a
statement.
“As
president
of
Ginnie
Mae,
Alanna
has
helped
expand
Ginnie
Mae’s
reach
in
serving
historically
underserved
communities
and
has
been
a
champion
for
advancing
market-driven
initiatives
that
support
mortgage
programs
across
the
government.”

Todman
added
that
the
condition
of
the
company
is
“stronger
than
when
she
arrived,”
saying
“her
tenure
sets
a
high
standard
for
servant
leadership.”

This
is
a
developing
story.

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