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Ginnie Mae chief abruptly resigns

The Trump administration will need to find a new person to lead Ginnie Mae.

Michael Bright announced on Wednesday that he was withdrawing his nomination as president, as well as resigning as executive vice president and chief operations officer effective Jan. 16.

Bright has been running Ginnie Mae on an interim basis since early 2017, and was nominated by President Donald Trump this past May. The Senate banking committee moved forward Bright’s nomination in August, but the appointment has remained in limbo since then. In a resignation letter, Bright said he would be returning to the private sector.

Maren Kasper, current executive vice president of Ginnie Mae, will serve as acting president. 


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