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HUD No. 19-154
HUD Public Affairs
(202) 708-0685
FOR RELEASE
Thursday
October 10, 2019

GINNIE MAE EXECUTIVE VICE PRESIDENT KASPER TO PURSUE NEW OPPORTUNITY


WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the Government National Mortgage Association (Ginnie Mae) today announced Executive Vice President and Chief Operations Officer Maren Kasper will be stepping down on October 18 to pursue an opportunity in the private sector.

"I want to thank Maren for her significant contributions to both Ginnie Mae and the Department which have helped enable more Americans to become homeowners," said Secretary Carson. "She has done a tremendous job stepping in to lead Ginnie Mae and its talented team. We all wish her well and know the future for her is bright."

"It's been an honor and a privilege to serve you and this Administration since joining the Department on January 20, 2017. I am proud of all that we have accomplished over the last three years. Our efforts under the Ginnie Mae 2020 strategic plan have protected taxpayers, continued to evolve the Ginnie Mae platform for the future, and improved the performance of the Ginnie Mae security, all to the benefit of American homeowners," said Maren Kasper in her resignation letter to Housing and Urban Development Secretary Ben Carson.

In the interim, Seth D. Appleton, Assistant Secretary for Policy Development and Research, will concurrently serve as Principal Executive Vice President. Appleton joined HUD in July 2017. Additionally, Michael Drayne will assume the role of acting Executive Vice President. Currently, Drayne is Senior Vice President for Strategic Planning and Policy. Drayne joined Ginnie Mae in March 2011.

Ginnie Mae leadership will host a conference call for global investors and stakeholders next week to discuss this leadership transition. Additional details to follow.

Background

Ginnie Mae's mission is to bring global capital into the housing finance market - a system that runs through the heart of our nation's economy - while minimizing risk to the taxpayer. For 50 years, Ginnie Mae has worked to make affordable housing a reality for millions of Americans through providing liquidity and stability, serving as the principal financing arm for government loans and ensuring that mortgage lenders have the necessary funds to provide loans to consumers. Ginnie Mae delivers mortgage securitization programs for mortgage lenders and attractive offerings for global investors.

Ginnie Mae developed the nation's first mortgage-backed securities (MBS) in 1970 and is the only federal agency tasked with the administration and oversight of an explicit, paid-for, full-faith-and-credit guaranty on MBS. Even in difficult times, an investment in Ginnie Mae MBS has proven to be one of the safest an investor can make, as evidenced by the demand for these securities from investors worldwide.

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