“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. --MBA President & CEO Robert Broeksmit, CMB, in a letter of support to the Senate Banking Committee for Alanna McCargo's nomination to head Ginnie Mae.

The highest interest rates since July sent mortgage applications—and in particular, refinance applications—down sharply, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 1.