Sam Valverde resigns from Ginnie Mae
Sam Valverde, currently acting president of Ginny Maeis resigning from his position effective November 30, 2024, according to an announcement made by the U.S. Department of Housing and Urban Development (HUD) on Friday. Gregory Keith, SVP and Chief Risk Officer at the company, will serve as acting president following Valverde’s departure.
Valverde took on the role following the resignation of Alanna McCargo earlier this year, having previously served as Principal VP and COO at the company since joining the company in 2022. He was Ginnie Mae’s first Latino manager and first Latino leader when he assumed the role of acting president. .
“I want to thank Acting President Sam Valverde for his innovative leadership at Ginnie Mae and his years of public service,” said Adrianne Todman, Acting HUD Secretary. “Mr. Valverde’s tenure has been groundbreaking and laid the foundation for a people-centered philosophy in Ginnie Mae’s critical mission to support affordable housing for people across the country.”
In a statement, Valverde called his work at Ginnie Mae “the most impactful and rewarding work of my public sector career,” and said he is “deeply honored to have had the opportunity to serve my country while advocating for a borrower-centric and market-driven housing finance agenda.”
He also thanked the team of career civil servants who populate the government agency and who serve “the enormity of their daily responsibilities in managing our $2.658 trillion underwriting business” as “inspirational.”
Valverde also praised the company’s next acting leader.
“Greg has been a key leader at Ginnie Mae for more than a decade and brings a holistic perspective on housing finance that will serve the organization well at this critical time,” said Valverde.
Valverde’s resignation comes amid an active transition process by newly elected President Donald Trump’s new team. During his first term, Trump appointed only Ginnie Mae to acting leadership, and the company did not have a fully Senate-confirmed president during his entire term.
It remains unclear whether this will be the case in the second Trump administration, which has yet to make any announcements about leadership choices in the government’s housing sector.
