Ginnie Mae’s acting president, Sam Valverde, who has held the position since May, announced his resignation, effective Nov. 30. Valverde originally joined the organization in 2022 and gained experience as principal executive vice president and chief operating office before becoming Ginnie Mae’s first Latinx leader.

“The opportunity to lead Ginnie Mae has been the most impactful and rewarding work of my career in public service,” Valverde said. “I am deeply honored to have had the chance to serve my country while championing a borrower-focused and market-driven housing finance agenda.

“I am immensely proud of all that we have achieved on behalf of the borrowers, issuers, and investors that we serve.”

Valverde added he owed a debt of gratitude to the team of career public servants who worked with him to uphold Ginnie Mae’s 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,” he said. “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 his departure, Senior Vice President and Chief Risk Officer Gregory Keith, an executive with over 35 years of housing finance experience, will assume presidential responsibilities.

Keith joined Ginnie Mae in October 2010 to lead the company’s risk and compliance functions. During his tenue, he has been “instrumental” in stabilizing Ginnie Mae’s portfolio by implementing robust risk management practices and overseeing key operational policies safeguarding Ginnie Mae’s mission.

“I would like to thank acting President Valverde for his innovative leadership at Ginnie Mae and years of public service,” U.S. Department of Housing and Urban Development acting Secretary Adrianne Todman said in a release. “Mr. Valverde’s tenure has been groundbreaking 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.”