Biden Nominates McCargo to Head Ginnie Mae

Biden Nominates McCargo to Head Ginnie Mae

President Biden nominated Alanna McCargo to be the next president of Ginnie Mae. McCargo currently serves as Senior Advisor for housing finance in the Department of Housing & Urban Development.

According to the White House announcement, McCargo’s career in housing spans decades and has centered on how America’s housing finance system can equitably provide credit and capital to households and affordable housing stakeholders. She joined the Biden-Harris Administration after serving as Vice President of the Housing Finance Policy Center at the Urban Institute in Washington, DC.

The position of GNMA president has been vacant for close to five years, with Ted Tozer, the last permanent president, resigning in 2017. Michael Bright served as interim president from 2017 to 2019.

“NRMLA fully supports the nomination of Alanna McCargo to be President of Ginnie Mae,” says NRMLA President Steve Irwin. “Alanna certainly has a keen understanding of GNMA, and her impressive CV illustrates her leadership skills and understanding of the public/private nature of the HECM program.”