Sam Valverde to resign from Ginnie Mae

Sam Valverde, currently serving as the acting president of Ginnie Mae, is resigning from his position as of Nov. 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 step in as acting president upon Valverde’s departure.

Valverde assumed the role following the resignation of Alanna McCargo earlier this year, after having previously served as principal VP and COO at the company since joining in 2022. He was Ginnie Mae’s first Latino executive and its first Latino leader upon assuming the role of acting president.

“I would like to thank Acting President Sam Valverde for his innovative leadership at Ginnie Mae and years of public service,” said Adrianne Todman, acting HUD secretary. “Mr. Valverde’s tenure has been ground-breaking and has set the foundation for a people-first philosophy in Ginnie Mae’s crucial mission to support affordable housing for people across the nation.”

In a statement, Valverde called his work at Ginnie Mae “the most impactful and rewarding work of my career in public service,” and said he is “deeply honored to have had the chance to serve my country, while championing a borrower-focused and market driven housing finance agenda.”

He also thanked the team of career civil servants that populate the government-owned company, giving service to “the enormity of their daily responsibilities in managing our $2.658 trillion guarantee business” as “inspiring.”

Valverde also lauded the next acting leader of the company.

“Greg has been a key leader at Ginnie Mae for over a decade, bringing a holistic perspective on housing finance that will serve the organization well at this critical time,” Valverde said.

Valverde’s resignation comes amidst an active transition process by the incoming team of President-elect Donald Trump. During his first term in office, Trump only appointed acting leadership into Ginnie Mae, and the company did not have a fully Senate-confirmed president for the entirety of his term.

It remains unclear whether this will be the case in the second Trump administration, which has yet to make any announcements regarding leadership choices in the government’s housing sector.