Ginnie Mae has announced that it is currently searching for a new EVP and COO [1] to manage its daily operations and serve as an integral part of the corporation’s leadership team. Ginnie Mae has also announced the promotion of Sam Valverde [2], who recently served as EVP and COO, on his recent promotion to the role of Principal EVP.
Based in Washington, D.C., the EVP and COO role will transition back to a permanent, federal career senior executive service position. As the third member of Ginnie Mae’s senior leadership behind the President and the Principal EVP, the EVP and COO is responsible for managing Ginnie Mae's daily operations, including all mortgage-backed security (MBS) operations, counterparty risk management, contracting, budget and legislative initiatives, and overall risk management of the organization through eight program offices, including the Office of the President.
“I am thrilled to announce the promotion of Sam Valverde to Principal Executive Vice President and have relied heavily on his expertise and leadership over the past year,” said Ginnie Mae President Alanna McCargo [3]. “Sam and I are excited about strengthening this leadership team with a new EVP and COO who will be crucial to ensuring stability of Ginnie Mae’s securitization and housing finance operations into the future.”
Details on the EVP and COO position and the recruitment process can be found here [1].
Sam Valverde, Principal EVP, Ginnie Mae
Valverde began his tenure at Ginnie Mae in March 2022 as EVP and COO. As Principal EVP, he is responsible for setting the strategic direction for the enterprise and leading policy development across a range of initiatives. He brings more than 15 years of housing finance, policy, and legal experience to Ginnie Mae. Across his career in public service, he has worked to develop market-based solutions to improve economic outcomes for all Americans.
Prior to joining Ginnie Mae, Valverde was most recently Supervisory Attorney Advisor at the Federal Housing Finance Agency (FHFA) in the Division of Conservatorship Oversight and Readiness. In that role, he led agency-wide projects intended to support greater access to mortgage credit and affordable rental opportunities for working families. In addition, he led successful efforts to transition the government-sponsored enterprises (the GSEs) away from utilizing LIBOR for a range of variable rate product offerings. He also coordinated efforts to develop a post-conservatorship regulatory framework for the GSEs and provided technical assistance on a variety of housing finance legislation.
Prior to his service at FHFA, Valverde served as a Counselor for Domestic Finance at the U.S. Department of the Treasury, focusing on housing and consumer finance issues. While at the Treasury Department, Valverde worked extensively on issues related to the ongoing conservatorships of the GSEs and implementation of the housing programs under the Housing and Economic Recovery Act of 2008 (HERA) [4]. He also led development of the Department’s first retirement savings product and efforts on multiemployer pension reform. While at Treasury, Valverde was instrumental to the creation of its Puerto Rico Task Force, charged with developing policy solutions to the Commonwealth’s fiscal crisis. Prior to joining public service, Valverde began his career as a securities lawyer at Davis Polk & Wardell LLP [5].