Ginnie Mae Acting President Sam Valverde Announces Resignation

HUD No. 24-301 HUD Public Affairs (202) 708-0685

FOR RELEASE Friday November 15, 2024

Ginnie Mae Acting President Sam Valverde Announces Resignation

WASHINGTON - Sam Valverde, Acting President of Ginnie Mae, will step down, effective November 30, 2024.

Valverde has served in the Biden-Harris Administration as Acting President of Ginnie Mae since May 2024, after previously holding the roles of Principal Executive Vice President and Chief Operating Officer since joining the organization in March 2022. His appointment marked a historic milestone, as he became Ginnie Mae's first Latino executive and later, its first Latino leader.

"I would like to thank Acting President Sam Valverde for his innovative leadership at Ginnie Mae and years of public service," said HUD Agency Head Adrianne Todman. "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."

"The opportunity to lead Ginnie has been the most impactful and rewarding work of my career in public service. I am deeply honored to have had the chance to serve my country, while championing a borrower-focused and market driven housing finance agenda," Valverde said. "I am immensely proud of all that we have achieved on behalf of the borrowers, issuers, and investors that we serve. I owe a debt of gratitude to the team of career public servants who work tirelessly to uphold our mission. The talent and dedication of the Ginnie Mae team are unmatched, and the enormity of their daily responsibilities in managing our $2.658 trillion guarantee business is inspiring. I am pleased with our progress and confident in the foundation we've built to enhance Ginnie Mae's capacity to meet its essential affordable housing and capital markets mission on behalf of the U.S. Government."

Upon Valverde's departure, Senior Vice President and Chief Risk Officer Gregory Keith will assume the responsibilities of Ginnie Mae President.

Keith brings over 35 years of housing finance experience to this role, having led Ginnie Mae's risk and compliance functions since October 2010. His work has been instrumental in stabilizing Ginnie Mae's portfolio, implementing robust risk management practices, and overseeing key operational policies to safeguard the organization's mission.

"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.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X, YouTube, Facebook and LinkedIn.

About Ginnie Mae

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development's Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the U.S. Government.