Ginnie Mae Chief Steps Down

The Government National Mortgage Association (GNMA, or “Ginnie Mae”) Executive Vice President and Chief Operations Officer Maren Kasper will be stepping down on October 18 for a new position in the private sector, according to a late Thursday press release issued by the organization.

Kasper was previously appointed as acting president in the aftermath of the abrupt resignation of former Ginnie Mae head Michael Bright.

Maren Kasper

“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 Department of Housing and Urban Development (HUD) Secretary Ben Carson in the press release. “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.”

Kasper reportedly submitted her resignation letter to Carson earlier Thursday.

“It’s been an honor and a privilege to serve you and this Administration since joining the Department on January 20, 2017,” Kasper wrote. “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.”

Temporarily filling the EVP position’s vacancy will be Michael Drayne, currently serving as the senior vice president for strategic planning and policy. Drayne joined Ginnie Mae in March 2011, and has addressed the reverse mortgage industry on several occasions at conferences and other functions.

Additionally, Seth D. Appleton, currently serving as the assistant secretary for policy development and research, will concurrently serve as principal EVP. Appleton joined HUD in July 2017.

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