Ginnie Mae Acting President Maren Kasper Announces Resignation

Acting Ginnie Mae President, Executive Vice President and Chief Operations Officer Maren Kasper said she is stepping down, effective Oct. 18, to pursue an opportunity in the private sector.

HUD and Ginnie Mae issued a statement late Thursday announcing Kasper’s departure. It marks the second time this year an acting head of Ginnie Mae has left the agency for a private sector job; in January then-Acting EVP Michael Bright withdrew his name from permanent consideration to take a job as President and CEO of Structured Finance Industry Group, a trade advocacy group for the securities markets. Ginnie Mae has not has a permanent president since early 2017, when Ted Tozer left during the Trump Administration transition.

“It’s been an honor and a privilege to serve you and this Administration,” Kasper wrote in a letter to HUD Secretary Ben Carson. “I am proud of all that we have accomplished over the last three years.”

Kasper joined Ginnie Mae as EVP in June 2017 and was named Acting President, EVP and COO this past January following Bright’s departure. She previously served as a Senior Advisor in the Office of the Secretary at HUD. Prior to joining HUD, she served as a Director at Roofstock, a real estate tech company; for Dwell Finance, a Blackstone-owned real estate lender; and Wells Fargo Securities. She served as a speaker and panelist at several Mortgage Bankers Association conferences over the past year.

“I want to thank Maren for her significant contributions to both Ginnie Mae and the Department which have helped enable more Americans to become homeowners,” Carson said. “She has done a tremendous job stepping in to lead Ginnie Mae and its talented team. We all wish her well and know the future for her is bright.”

Ginnie Mae said Seth D. Appleton, Assistant Secretary for Policy Development and Research, will concurrently serve as Principal Executive Vice President. Appleton joined HUD in July 2017. Additionally, Michael Drayne will become acting Executive Vice President. Currently, he is Senior Vice President for Strategic Planning and Policy. Drayne joined Ginnie Mae in March 2011.