The

Federal
Home
Loan
Bank
(FHLBank)
of
San
Francisco,
one
of
the
11
regionally
based,
wholesale
suppliers
of
lendable
funds
to
financial
institutions,
announced
on
Wednesday
that
it
has
appointed
former


Ginnie
Mae
President
Alanna
McCargo
to
serve
as
its
new
CEO
effective
June
10.

McCargo
was
the
first

Senate-confirmed
president
of
Ginnie
Mae
since
the
resignation
of
her
predecessor,
Ted
Tozer,
who
vacated
the
position
just
before
the
start
of
the
Trump
administration
in
early
2017.

She
was
also
the
first
woman
of
color
to
lead
Ginnie
Mae,
and
she
served
a
major
role
in
advancing
the
housing
priorities
of
the
Biden
administration
while
working
with
the


U.S.
Department
of
Housing
and
Urban
Development
(HUD)
under
the
leadership
of
former
Secretary

Marcia
Fudge
and
current


Federal
Housing
Administration
(FHA)
Commissioner
Julia
Gordon.

“I
am
looking
forward
to
joining
the
team
at
the
Federal
Home
Loan
Bank
of
San
Francisco
and
leading
the
critical
work
of
providing
reliable
access
to
liquidity
to
Bank
members
and
fulfilling
the
public
mission
to
support
affordable
housing
and
deepen
community
investment,”
McCargo
said
in
a
statement.

“The
role
of
the
FHLBanks
is
essential
to
our
financial
system
and
contributes
to
the
economic
strength
and
stability
of
communities
in
our
nation.
Throughout
my
career,
I’ve
driven
efforts
to
improve
housing
affordability
and
economic
opportunity
while
managing
the
risks
and
the
complexities
of
our
housing
finance
system.”

She
added
that
she
is
looking
forward
to
bringing
“a
new
perspective”
to
the
bank
while
continuing
to
work
with
her
colleagues
in
the
FHLBank
system
to
solve
ongoing
housing
challenges.

“Together
we’ll
strengthen
the
value
the
Bank
brings
in
meeting
the
liquidity
demands
of
members
and
supporting
affordable
housing
and
community
investment
within
Arizona,
California,
Nevada,
and
beyond.
I
am
thrilled
to
be
joining
the
Bank
at
this
pivotal
time,”
she
said.

Fudge
also
weighed
in
on
the
appointment
by
lauding
McCargo’s
collaboration
with
her
during
their
time
with
the
federal
agencies.

“Alanna
played
a
critical
role
for
the
nation
in
her
tenure
as
my
senior
advisor
for
housing
finance,
and
we
are
all
better
thanks
to
her
leadership
and
vision
as
president
of
Ginnie
Mae,”
Fudge
said
in
a
statement.
“She
centered
the
agency’s
work
on
its
core
mission,
strengthened
alliances
across
the
globe
and
within
the
housing
industry,
and
built
a
strong
foundation
for
the
future.”

McCargo’s
focus
is
to
make
the
“system
work
for
all
Americans,”
Fudge
added,
saying
that
her
experience
and
ability
to
navigate
the
intricacies
of
financial
matters
will
be
a
credit
to
the
bank.

“Her
decades
of
housing
experience
and
broad
areas
of
expertise,
together
with
the
relationships
she
has
built
across
the
entire
housing
finance
system,
will
be
a
tremendous
asset
in
her
new
role
as
president
and
CEO
of
FHLBank
San
Francisco,”
Fudge
said.

Prior
to
her
time
at
Ginnie
Mae,
McCargo
served
as
vice
president
of
the


Urban
Institute’s
Housing
Finance
Policy
Center
before
joining
HUD
as
a
senior
adviser
for
housing
finance.

Much
of
her
career
has
been
centered
on
questions
of
housing
equality,
including
how
the
housing
finance
system
can
more
equitably
provide
assistance
to
stakeholders
who
would
be
most
affected
by
the
additional
assistance
that
HUD
is
able
to
provide
to
vulnerable
populations.

While
at
the
Urban
Institute,
McCargo’s
work
similarly
focused
on
issues
of
housing
equality,
where
she
created
a
body
of
work
focused
on
reducing
racial
homeownership
gaps,
increasing
housing
affordability
and
reducing
barriers
to
capital.

McCargo
also
previously served
as
executive
director
of
the

Mortgage
Servicing
Collaborative,
which
developed
policy
recommendations
for
mortgage
servicing
and
securitization
reforms.

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