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The Week Ahead: Ginnie Mae President to Address Affordable Housing Solutions

On Tuesday, March 21 at 10:00 a.m. Central, the Harvard Joint Center for Housing Studies will present an online and in-person presentation titled, “Housing Finance & Social Equity: Learning From Ginnie Mae.” The event will feature a presentation from Ginnie Mae President Alanna McCargo, along with a discussion on the nation’s affordable housing dilemma. The MIT Department of Urban Studies and Planning, MIT’s Golub Center for Finance and Policy, will serve as co-sponsors of the event.

Persistent racial and ethnic disparities in access to affordable homeownership and rental opportunities have created the need to examine whether—and how—to change aspects of the complex and rapidly changing U.S. housing finance system. This challenge, and the foundational questions it raises, will be the focus of a series of public lectures given by practitioners and scholars in conjunction with a class on housing finance and equity offered by MIT’s Department of Urban Studies and Planning during “Housing Finance & Social Equity: Learning From Ginnie Mae.”

The last session in the series will feature Alanna McCargo, President of Ginnie Mae, who will discuss efforts to ensure that America's housing finance system equitably and affordably serves the capital and credit needs of all households.

McCargo was sworn in as Ginnie Mae's 18th President in December 2021. She began her work with the Biden-Harris Administration as a Presidential Appointee in the U.S. Department of Housing and Urban Development (HUD) as Senior Advisor for Housing Finance for Secretary Marcia L. Fudge.

McCargo's career in housing finance spans decades, and has centrally focused on how America's housing finance system can equitably and affordably serve the capital and credit needs of all households.

Prior to joining the Biden-Harris Administration, McCargo was VP of the Housing Finance Policy Center at the Urban Institute, a social and economic policy research firm where she led and developed evidence-based research and analysis on the U.S housing finance system. She helped to advance the national policy conversation around reducing racial homeownership and wealth gaps and removing barriers to accessing credit and capital. McCargo also served as Executive Director of the Mortgage Servicing Collaborative, a cross-sector initiative that identified and developed policy recommendations for mortgage servicing and securitization reforms to enable stability for the housing finance system through all economic cycles.

Previously, McCargo held roles as VP and Head of Government Solutions with CoreLogic, and she was VP with JP Morgan Chase's Home Lending Division. She worked for Fannie Mae from 2002-2012 on secondary mortgage market and policy development and programs. While at the GSE, McCargo worked in partnership with the U.S. Treasury Department at the height of the Great Recession and housing crisis in 2008, executing on the Housing and Economic Recovery Act of 2008, including implementation of new housing and mortgage programs to promote mortgage servicing reforms, foreclosure prevention, and loss mitigation solutions.

Prior to joining public service, McCargo served in her personal and professional capacity on nonprofit boards focused on housing security and affordability efforts including Doorways for Women and Families, Women in Housing and Finance Foundation, and in advisory roles with the Aspen Institute's Expanding Prosperity Impact Collaborative (EPIC) for housing, and with Habitat for Humanity of Washington, DC.

She has dedicated her career to helping households gain financial stability and security and has been an advocate for safe sustainable homeownership and expanding opportunities and choices that help to build credit, assets, and wealth.

In addition to attending the event virtually, the public is welcome to attend in-person (no registration necessary) at MIT Building 9, located at 105 Massachusetts Avenue in Cambridge, Massachusetts in Room 354.

Click here for more information or to register for this event.

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About Author: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

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