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Michael Bright to Step Down as Head of Ginnie Mae

Published on January 10, 2019 by Greg Zagorski
Michael Bright to Step Down as Head of Ginnie Mae

HUD last night announced that Ginnie Mae Executive Vice President and Chief Operations Officer Michael Bright will be stepping down on January 16. Bright has also requested that President Trump withdraw his nomination to serve as President of Ginnie Mae.

Maren Kasper, current Executive Vice President of Ginnie Mae, will serve as the Acting President upon Bright’s departure. She has been with Ginnie Mae since June 2017.

Bright has been with Ginnie Mae since July 2017, acting as its de-facto leader before being nominated to serve as President of the agency. The Senate Banking Committee favorably reported his nomination by unanimous voice vote last year, but it was never considered by the full Senate.

No announcement has been made regarding whom the President will nominate to serve as Ginnie Mae President.

Bright intends to pursue a new opportunity in the private sector. In his resignation letter, Bright expressed pride in the work Ginnie Mae has done since he joined and pledged to facilitate an orderly transition process.

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