Biden Nominates Alanna McCargo as President of Ginnie Mae

Housing Finance
Published

The Biden administration announced it intends to nominate senior HUD official Alanna McCargo to be president of Ginnie Mae.

Prior to joining HUD at the beginning of this year, McCargo served as vice president for the Housing Finance Policy Center at the Urban Institute. Her work focused on reducing racial homeownership gaps, removing barriers to ownership and building wealth equity.

Before joining Urban Institute, McCargo was head of CoreLogic Government Solutions, working with federal and state government agencies, regulators, think tanks, and academia to deliver custom data and technology solutions to support housing and consumer research.

Ginnie Mae is a wholly owned government corporation that attracts global capital into the U.S. housing finance system. Ginnie Mae guarantees investors the timely payment of principal and interest on mortgage-backed securities (MBS) issued by private lenders that are backed by pools of Federal Housing Administration, Veterans Affairs, Rural Housing Service and Public and Indian Housing mortgage loans.

The full faith and credit guarantee of the federal government that Ginnie Mae places on these MBS lowers the cost of mortgage financing for government-backed loans, supporting homeownership for veterans and millions of home owners throughout the country.

McCargo will need to be confirmed by the Senate before taking the helm at Ginnie Mae.

Subscribe to NAHBNow

Log in or create account to subscribe to notifications of new posts.

Log in to subscribe

Latest from NAHBNow

Membership | Advocacy

Jul 02, 2025

From Disaster Relief to Challenging Gas Bans, HBAs are Making a Difference

Nearly two dozen HBAs received Association Excellence Awards for outstanding contributions they made on behalf of their members and communities in 2024.

Advocacy

Jul 01, 2025

One Big Beautiful Bill Act Will Spur Economic Growth

NAHB Chairman Buddy Hughes issued the following statement after the Senate passed the One Big Beautiful Bill Act.

View all

Latest Economic News

Economics

Jul 02, 2025

Two or More Story Home Starts Rebound in 2024

Over half of new single-family homes built in 2024 were two or more stories, according the recent release of the Census Bureau’s Survey of Construction (SOC). After declining in 2023, the share of homes started with two or more stories increased again in 2024, continuing the upward trend in place since 2020.

Economics

Jul 01, 2025

May Private Residential Construction Spending Dips

Private residential construction spending fell by 0.5% in May, marking the fifth straight month of decreases. This drop was primarily driven by reduced spending on single-family construction. Compared to a year ago, total spending was down 6.7%, as the housing sector continues to navigate the economic uncertainty stemming from ongoing tariff concerns and elevated mortgage rates.

Economics

Jul 01, 2025

Flat Job Openings for Construction

The count of open, unfilled positions in the construction industry held steady amid a slowdown for housing, per the May Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS).