Biden Nominates Alanna McCargo as President of Ginnie Mae
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.
Latest from NAHBNow
Jul 22, 2025
2026 IBS Sustainability & Green Building Scholarship Application Now OpenThe NAHB IBS Sustainability and Green Building Scholarship aims to provide emerging green builders exposure to the world of high-performance homes and help them jump-start their professional journey by attending the International Builders’ Show (IBS).
Jul 21, 2025
House Bill Restores Funding for Several Housing Programs from Trump BudgetThe House Appropriations Committee has voted to restore funding for key housing programs that President Trump eliminated in his “skinny budget,” such as housing choice vouchers, project-based rental assistance and the Community Development Block Grant (CDBG) program.
Latest Economic News
Jul 22, 2025
Top 10 Builder Market Share Across MetrosAn earlier post described how the top 10 builders in the country captured a record 44.7% of new single-family closings in 2024. BUILDER Magazine has now released additional data on the top ten builders within each of the 50 largest new home markets in the U.S., ranked by single-family permits.
Jul 21, 2025
Use of Private Water and Sewer Systems in New Single-Family HomesThe share of new single-family homes built with individual septic systems declined slightly in 2024 compared to the previous year, while the share of homes served by private wells remained steady.
Jul 21, 2025
Sales of Lower-Priced New Single-Family Homes Declined Over the Past Five YearsFrom 2020 to 2024, sales of lower-priced new homes declined significantly as the market moved toward higher-priced segments. Rising construction costs—driven by inflation, supply chain disruptions, and labor shortages—as well as higher regulatory costs, made it increasingly difficult for builders to construct affordable homes.