Joe Gormley has been nominated to be the Ginnie Mae President, its first permanent leader since Alanna McCargo's departure in May 2024. Gormley has extensive experience in housing finance policy, having served as executive vice president and chief operating officer since April, as well as in senior roles at the Department of Housing and Urban Development and the Federal Housing Administration. The Mortgage Bankers Association supports his nomination and emphasizes the need for modernization of Ginnie Mae's technology and improvement of the mortgage market's liquidity and affordability.
Joe Gormley is an outstanding choice to serve as the next Ginnie Mae President. His deep experience in housing finance policy makes him well-qualified to lead the agency's mission.
The Mortgage Bankers Association supports Gormley's nomination, citing his past roles that include serving as chief of staff and deputy secretary at HUD, and experience in the Federal Housing Administration.
Policies and initiatives will focus on modernizing the agency's technology to improve overall issuer experience, increase liquidity for Ginnie Mae mortgage-backed securities, and promote affordable homeownership.
The overarching goal is to ensure mortgage market liquidity, sustainability, and affordability, demonstrating the importance of strategic policy implementation within housing finance.
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