Sam Valverde, formerly the principal executive vice president of government-owned corporation Ginnie Mae, was named as its acting president as of May 6, according to an announcement issued by the organization this week.

Valverde succeeds Alanna McCargo, who began serving as Ginnie Mae president in January 2022 until announcing her resignation in April. That resignation went into effect as of May 3, and McCargo has since been announced as the new CEO of the Federal Home Loan Bank (FHLBank) of San Francisco.

Valverde first joined Ginnie Mae in 2022, working in roles as an EVP and chief operating officer before being appointed principal EVP in 2023. Immediately prior to joining Ginnie Mae, he served as supervisory attorney adviser at the Federal Housing Finance Agency (FHFA) in its division of conservatorship oversight and readiness.

During that time, he assisted with the transition away from the London Interbank Offered Rate (LIBOR) index after its deficiencies were exposed in prior years.

Before joining FHFA, Valverde served at the U.S. Department of the Treasury as a counselor for domestic finance, where he worked on the conservatorships of the government-sponsored enterprises, Fannie Mae and Freddie Mac.

His career prior to government service saw him serve as a securities lawyer at Davis Polk & Wardell LLP, and he earned his J.D. from Yale Law School.

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