Sam
Valverde,
currently
serving
as
the
acting
president
of


Ginnie
Mae,
is
resigning
from
his
position
as
of
Nov.
30,
2024,
according
to
an
announcement
made
by
the


U.S.
Department
of
Housing
and
Urban
Development
(HUD)
on
Friday.
Gregory
Keith,
SVP
and
chief
risk
officer
at
the
company,
will
step
in
as
acting
president
upon
Valverde’s
departure.

Valverde
assumed
the
role
following
the

resignation
of
Alanna
McCargo
earlier
this
year,
after
having
previously
served
as
principal
VP
and
COO
at
the
company
since
joining
in
2022.
He
was
Ginnie
Mae’s
first
Latino
executive
and
its
first
Latino
leader
upon
assuming
the
role
of
acting
president.

“I
would
like
to
thank
Acting
President
Sam
Valverde
for
his
innovative
leadership
at
Ginnie
Mae
and
years
of
public
service,”
said

Adrianne
Todman,
acting
HUD
secretary.
“Mr.
Valverde’s
tenure
has
been
ground-breaking
and
has
set
the
foundation
for
a
people-first
philosophy
in
Ginnie
Mae’s
crucial
mission
to
support
affordable
housing
for
people
across
the
nation.”

In
a
statement,
Valverde
called
his
work
at
Ginnie
Mae
“the
most
impactful
and
rewarding
work
of
my
career
in
public
service,”
and
said
he
is
“deeply
honored
to
have
had
the
chance
to
serve
my
country,
while
championing
a
borrower-focused
and
market
driven
housing
finance
agenda.”

He
also
thanked
the
team
of
career
civil
servants
that
populate
the
government-owned
company,
giving
service
to
“the
enormity
of
their
daily
responsibilities
in
managing
our
$2.658
trillion
guarantee
business”
as
“inspiring.”

Valverde
also
lauded
the
next
acting
leader
of
the
company.

“Greg
has
been
a
key
leader
at
Ginnie
Mae
for
over
a
decade,
bringing
a
holistic
perspective
on
housing
finance
that
will
serve
the
organization
well
at
this
critical
time,”
Valverde
said.

Valverde’s
resignation
comes
amidst
an
active
transition
process
by
the
incoming
team
of
President-elect

Donald
Trump.
During
his
first
term
in
office,
Trump
only
appointed
acting
leadership
into
Ginnie
Mae,
and
the
company
did
not
have
a
fully
Senate-confirmed
president
for
the
entirety
of
his
term.

It
remains
unclear
whether
this
will
be
the
case
in
the
second
Trump
administration,
which
has
yet
to
make
any
announcements
regarding
leadership
choices
in
the
government’s
housing
sector.

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