Senate Approves Alanna McCargo as Ginnie Mae President

The Senate on Tuesday approved Alanna McCargo as President of Ginnie Mae by voice vote.

McCargo has served as Acting President of Ginnie Mae since this summer, when she was nominated by the Biden Administration. She becomes Ginnie Mae’s first confirmed President since 2017, succeeding Ted Tozer.

McCargo’s nomination had strong support from the Mortgage Bankers Association. Following her confirmation, MBA President & CEO Robert Broeksmit, CMB, issued the following statement:

“MBA applauds the confirmation of Alanna McCargo to be President of Ginnie Mae. Her experience, knowledge of housing issues, and strong working relationships with a wide array of stakeholders will serve her well in this position. “We look forward to working with her on ways to advance Ginnie Mae modernization initiatives, enhance liquidity for Ginnie Mae mortgage servicing rights, and support adequate, affordable homeownership and rental housing throughout the country.”

McCargo previously served as Senior Advisor for housing finance with HUD. She joined the Biden-Harris Administration after serving as Vice President of the Housing Finance Policy Center at the Urban Institute, where she led and developed research programming in collaboration with key housing industry, nonprofit and government agencies to support housing policy research. She also served as Executive Director of the Mortgage Servicing Collaborative, a cross-sector initiative. Before joining the Urban Institute, she held roles as Vice President and Head of Government Solutions with CoreLogic; and as Vice President with JPMorgan Chase’s Home Lending division, as well as stints with Fannie Mae, the Treasury Department and the Federal Housing Finance Agency.

Ahead of McCargo’s confirmation hearing before the Senate Banking Committee in September, MBA sent a letter in support of her nomination, citing her substantive experience working on policy matters related to mortgage lending, secondary markets and servicing. “It is clear Ms. McCargo has the requisite deep understanding of key housing finance policy issues, as well as a demonstrated track record of working collaboratively with industry, government and housing advocates, to lead Ginnie Mae effectively,” Broeksmit wrote. “[She] has demonstrated the capacity to bring together diverse stakeholders to find consensus on complex housing policy matters.”