WASHINGTON, D.C. – For the first time in Ginnie Mae’s more than 50-year history, former presidents of Ginnie Mae gathered for a Presidents Roundtable. During the meeting, past Ginnie Mae presidents discussed lessons learned from their respective tenures and how they can inform Ginnie Mae’s growing role in providing accessible and affordable housing opportunities for all Americans.
Led by Ginnie Mae President Alanna McCargo with remarks from Housing and Urban Development Secretary Marcia L. Fudge, the April 28 roundtable focused on:
• how technology is changing the mortgage market
• levers that will safely increase equitable homeownership
• managing the risks of a changing lender landscape
• strategies to help homebuyers thrive in a time of rising mortgage rates
Past Ginnie Mae presidents who participated in Thursday’s meeting included: John Dalton (President 1977-1979), Ronald Rosenfeld (President 2001-2004), Robert Couch (President 2006-2007), Joseph Murin (President 2008-2009), and Theodore Tozer (2010-2017).
“The challenges the mortgage market face today – rising home prices and mortgage rates, rapid technological change, and new market entrants – are similar to what past leaders have met and managed,” McCargo said. “Tapping the experience of the presidents who came before me will help inform how Ginnie Mae and the consumers it serves will thrive in the future. I look forward to building on the knowledge and legacies of my predecessors.”
President McCargo was sworn in as Ginnie Mae’s 18th President in December 2021 as the first Senate confirmed president in nearly five years and the first woman to hold the role. Thursday’s roundtable builds on Ginnie Mae’s continuing role as the government’s leading source of liquidity for America’s housing programs. These programs serve first-time homebuyers, low- and moderate-income borrowers, rural homeowners, tribal homebuyers and veteran homebuyers by connecting world-wide capital markets on behalf of affordable homeownership and rental housing in America.
During the discussion, President McCargo emphasized the Biden-Harris Administration’s commitment to technology innovation and expanded industry partnership to break down systemic barriers, enabling Americans to safely secure the American Dream.
The past presidents provided insight and advice that will help Ginnie Mae exercise industry leadership while working with the housing finance industry through this period of increasing inflation, rising mortgage rates and accelerating home prices. This event is the first in a series focused on meeting the challenges and building on the opportunities of a dynamic housing finance market.
About Ginnie Mae
Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.