Sam Valverde, acting president of Ginnie Mae, will step down effective November 30.
Valverde has served as acting president of Ginnie Mae since May. He previously held the roles of principal executive vice president and chief operating officer since joining the organization in March 2022.
His appointment marked a historic milestone, as he became Ginnie Mae’s first Latino executive and later, its first Latino leader.
“I would like to thank Acting President Sam Valverde for his innovative leadership at Ginnie Mae and years of public service,” says Adrianne Todman, agency head for HUD, in a release. “Mr. Valverde’s tenure has been ground-breaking and has set the foundation for a people-first philosophy in Ginnie Mae’s crucial mission to support affordable housing for people across the nation.”
“The opportunity to lead Ginnie has been the most impactful and rewarding work of my career in public service,” Valverde says. “I am deeply honored to have had the chance to serve my country, while championing a borrower-focused and market driven housing finance agenda.”
“I am immensely proud of all that we have achieved on behalf of the borrowers, issuers, and investors that we serve,” Valverde adds. “I owe a debt of gratitude to the team of career public servants who work tirelessly to uphold our mission. The talent and dedication of the Ginnie Mae team are unmatched, and the enormity of their daily responsibilities in managing our $2.658 trillion guarantee business is inspiring. I am pleased with our progress and confident in the foundation we’ve built to enhance Ginnie Mae’s capacity to meet its essential affordable housing and capital markets mission on behalf of the U.S. Government.”
Upon Valverde’s departure, Gregory Keith, senior vice president and chief risk officer for Ginnie Mae, will assume the responsibilities of president.
Keith has more than 35 years of housing finance experience, having led Ginnie Mae’s risk and compliance functions since October 2010. His work has been instrumental in stabilizing Ginnie Mae’s portfolio, implementing robust risk management practices, and overseeing key operational policies to safeguard the organization’s mission.