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Statement by Ginnie Mae President Alanna McCargo on the Retirement of Department of Housing and Urban Development (HUD) Secretary Marcia L. FudgeContact: GinnieMaeCommunications@HUD.govPublished Date: 3/11/2024 5:25 PM
*For the last three years, Secretary Marcia L. Fudge has led the Department of Housing and Urban Development fearlessly and passionately as our 18th Secretary. It has been a great honor to serve under her leadership for her entire tenure, first as her Senior Advisor for Housing Finance, and since 2021, as the President of the Government National Mortgage Association (Ginnie Mae). Secretary Fudge has made history and changed the trajectory of HUD for the future.*

*During her time leading HUD, Secretary Fudge has been a fierce advocate and bold voice for affordable, fair housing for every American, and has championed efforts to right past wrongs and ensure that historically underserved communities have access to housing and the opportunity to achieve the American Dream. During my time in the Secretary’s office, she pioneered historic initiatives, has challenged me and the entire team to think big and be bold for the good of the people and this country, enabling groundbreaking work across government to address critical issues related to housing equity, fair housing, and fair lending. Secretary Fudge has been relentless in her support of Ginnie Mae and fully understands the crucial housing finance role the agency plays in serving low- and moderate-income households, first-time homebuyers, veterans, seniors, and tribal and rural communities. Under her tenure, not only has our portfolio reached historic highs of over $2.54 trillion in outstanding Mortgage-Backed Securities (MBS), but in fiscal year 2024, Ginnie Mae has been appropriated the highest annual budget increase in its history.  Those resources will go a long way in strengthening our program and the secondary market, further empowering Ginnie Mae’s critical role within HUD as a multiplying force for government mortgage programs.*

*Secretary Fudge departs the Biden-Harris administration with a long, successful career as a public servant, and her legacy will have a lasting effect for HUD, Ginnie Mae, and the institutions and Americans we serve. On behalf of Ginnie Mae, I express my deepest gratitude to Secretary Fudge for her passion, visionary leadership, and above all her friendship and kindness. Madam Secretary, your legacy and impact will be enduring.  We wish you well in your nex​t chapter and thank you for your remarkable service to**​​​**our country. ​***
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