President Donald Trump intends to nominate Michael Bright to be the president of the Government National Mortgage Association (Ginnie Mae) under the Department of Housing and Urban Development, the White House has announced.
Bright is currently acting president of the company. He joined Ginnie Mae in July 2017 as executive vice president and COO. In that role, he manages all operations for Ginnie Mae’s $1.8 trillion portfolio of mortgage-backed securities.
Ginnie Mae was previously led by Ted Tozer, who left his post early in 2017 after serving as president for seven years.
Bright brings experience in the mortgage, banking, and securities industries to his role. Before joining Ginnie Mae, he was a director at the Milken Institute’s Center for Financial Markets, where he led the institute’s housing program. He also previously served in the office of Sen. Bob Corker, where he advised on a range of Senate Banking Committee regulatory policy issues.
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