WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) announced on April 19, 2024, that Alanna McCargo, President of the Government National Mortgage Association (Ginnie Mae), will resign, effective May 3, 2024.
Alanna McCargo, who has been serving in the Biden-Harris Administration since January 2021, made history by becoming the first woman and woman of color at the helm of the government corporation, with bipartisan support by the U.S. Senate.
Expressing gratitude for McCargo's service and leadership, HUD Acting Secretary Adrianne Todman stated, "I thank President McCargo for her service to our country and at HUD. In her time at the agency, she has been a zealous advocate for housing affordability and ensuring a more equitable housing finance system."
In a statement regarding her resignation, Alanna McCargo shared, "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. 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."
McCargo also highlighted the dedication and talent of the team at Ginnie Mae, saying, "I am most proud of the team of career public servants at Ginnie Mae that I have had the privilege of working alongside since my confirmation."
Upon McCargo's departure, Principal Executive Vice President (PEVP) Sam Valverde will serve as Acting President. Valverde has worked closely with McCargo for the past 2 years and has been instrumental in leading critical initiatives at the agency.
McCargo's resignation marks the end of her impactful tenure at Ginnie Mae, during which she has made significant contributions to advancing affordable housing and the capital markets mission on behalf of the United States Government.
