Sam Valverde, who concluded his role as acting president of Ginnie Mae on November 30, is making a significant move to Freddie Mac.
Starting this Monday, he will take on the position of vice president for mission and community engagement within the single-family acquisitions division.
Valverde’s Experience
With an impressive background spanning over twenty years in housing and capital markets, Valverde has previously held senior roles at both the Federal Housing Finance Agency (FHFA) and the U.S. Department of the Treasury.
In his new capacity at Freddie Mac, he will focus on improving risk management strategies, encouraging lenders to adopt digital tools, and leading initiatives that aim to enhance housing affordability.
His appointment was first highlighted by National Mortgage News.
Transition at Ginnie Mae
Valverde joined Ginnie Mae in 2022, initially taking on the role of principal vice president and chief operating officer.
He was named acting president after Alanna McCargo departed in May.
Following Valverde’s transition, Gregory Keith, who currently serves as Ginnie Mae’s senior vice president and chief risk officer, will step up to the role of acting president.
Future Leadership Changes
This leadership change at Freddie Mac comes at a time of notable transitions within the organization, as it prepares for 2024.
Already, the company has bid farewell to chief financial officer Christian Lown in June, while CEO Michael DeVito is set to retire in the first quarter after less than three years in his position.
Valverde’s new role arrives amidst a shifting landscape in the housing sector, particularly with President-elect Donald Trump’s administration on the horizon.
During Trump’s last term, he opted for acting leaders at Ginnie Mae, leaving the presidential role without a Senate-confirmed appointee.
As Trump gears up for a second term, the confirmation process for leadership remains uncertain.
Looking ahead, Trump has nominated Scott Turner, former executive director of the White House Opportunity and Revitalization Council, as his candidate for secretary of the U.S. Department of Housing and Urban Development (HUD).
This appointment could further alter the dynamics of the housing landscape in the coming months.
Source: Housingwire