Biden Nominates Alanna McCargo to Head Ginnie Mae

(Alanna McCargo)

The Biden Administration on Monday nominated Alanna McCargo as President of Ginnie Mae.

McCargo currently serves as Senior Advisor for housing finance HUD. She joined the Biden-Harris Administration after serving as Vice President of the Housing Finance Policy Center at the Urban Institute, a social and economic policy research firm where she led and developed research programming in collaboration with key housing industry, nonprofit and government agencies to support housing policy research. She developed a body of work focused on reducing racial homeownership gaps, increasing housing affordability and reducing barriers to accessing credit and capital.

McCargo also served as Executive Director of the Mortgage Servicing Collaborative, a cross-sector initiative that identified and developed policy recommendations for mortgage servicing and securitization reforms to enable a more stable housing finance system.

Before joining the Urban Institute, McCargo held roles as Vice President and Head of Government Solutions with CoreLogic; and as Vice President with JPMorgan Chase’s Home Lending division. Previously, she spent a decade at Fannie Mae, where she led policy development and secondary mortgage market programs and had leadership roles on key corporate initiatives. From 2008 through 2012 she served as Senior Director of Servicing Portfolio Management and played a central role in the partnership with the US Department of Treasury in executing the Emergency Economic Stabilization Act of 2008. She was instrumental in foreclosure prevention efforts, loan restructuring, and distressed asset management programs. She was a leader in the work with the Federal Housing Finance Agency on Fannie Mae and Freddie Mac mortgage servicing alignment efforts.

Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, commended McCargo’s nomination.

“Ginnie Mae is a critically important agency in our housing finance system, and Alanna has a deep understanding of the agency and a demonstrated track record of working with industry, government, and housing advocates on key housing policy issues,” Broeksmit said. “MBA looks forward to working with her, and other senior staff at Ginnie Mae, on ways to enhance liquidity for Ginnie Mae mortgage-backed securities and help make affordable residential and rental housing a reality for millions of low- and moderate-income households by channeling global capital into the nation’s housing markets.”