The U.S. Senate this weekend received the nomination of Joseph Gormley to be the next president at Ginnie Mae — its first permanent president since May 2024.
The Senate forwarded the nomination on to its committee on banking, housing and urban affairs.
Gormley currently serves as Ginnie Mae’s executive vice president and chief operating officer. He has also held roles at the Independent Community Bankers of America (ICBA) as Assistant Vice President and Regulatory Counsel, as well as at the Mortgage Bankers Association (MBA) and the Financial Industry Regulatory Authority.
The move was met with praise from MBA President Bob Broeksmit, who called him an outstanding choice to serve as the next Ginnie Mae president.
“MBA overwhelmingly supports his nomination and believes his deep experience in housing finance policy, including in senior roles at Ginnie Mae, the Department of Housing and Urban Development, and MBA, make him well-qualified to lead the agency’s mission of ensuring mortgage market liquidity, sustainability, and affordability,” Broeksmit said.
“We will work with Joe Gormley, HUD Secretary Scott Turner, and their staffs on policies and initiatives that modernize the agency’s technology to improve overall issuer experience, increase liquidity for Ginnie Mae mortgage-backed securities, promote affordable homeownership and rental housing, and bring more private capital to the housing finance system.”
Community Home Lenders of America (CHLA) also strongly supported Gormley’s nomination, calling him “an excellent choice to lead the agency, bringing a strong blend of private sector mortgage experience and public service.”
David M. Dworkin, President and CEO of the National Housing Conference (NHC), pointed to Gormey’s a proven record of advancing innovative programs and reforms.
“Since April 2025, he has served effectively as Executive Vice President and Chief Operating Officer at Ginnie Mae, demonstrating his leadership during a period of substantial change. His tenure at the Department of Housing and Urban Development and the Federal Housing Administration underscores his deep understanding of the complexities and opportunities within the U.S. housing system and commitment to affordable housing,” Dworkin commented in a statement. “Mr. Gormley is exceptionally well-equipped to guide Ginnie Mae forward. I look forward to collaborating with him to expand access to affordable housing and to strengthening the nation’s housing finance system.”
