Ginnie Mae President Plans To Step Down

Ginnie Mae President Joseph Murin will soon announce his resignation, according to several published reports.

Bloomberg News says Murin, who joined Ginnie Mae in July 2008 after serving as president of Pittsburgh's Mortgage Settlement Network LLC, is looking to move back into the private sector. The report cites two unnamed sources who requested anonymity because the official announcement has not yet been made.

In July, Ginnie Mae announced it had issued more than $43 billion in mortgage-backed securities during the month of June – a company first.

A phone call to Ginnie Mae seeking verification of the reports was not immediately returned.

SOURCE: Bloomberg News

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