The U.S. Department of Housing and Urban Development (HUD) announced that Alanna McCargo is resigning as president of the Government National Mortgage Association (Ginnie Mae), effective May 3.
McCargo became Ginnie Mae’s 18th president and first female leader in December 2021. She was previously senior advisor for housing finance to former HUD Secretary Marcia Fudge.
Prior to joining the Biden administration, McCargo was vice president of the Housing Finance Policy Center at the Urban Institute. Earlier in her career, she was vice president and head of government solutions with CoreLogic and a vice president with JP Morgan Chase’s home lending division.
“I thank President McCargo for her service to our country and at HUD,” said Acting Secretary Adrianne Todman. “In her time at the agency, she has been a zealous advocate for housing affordability and ensuring a more equitable housing finance system. 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. It has been a joy to work with President McCargo. I am proud to say that she has left Ginnie Mae stronger than when she arrived, and her tenure sets a high standard for servant leadership.”
Ginnie Mae’s Principal Executive Vice President Sam Valverde will serve as acting president following McCargo’s departure.
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