DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.
Issue link: http://digital.dsnews.com/i/1535182
MortgagePoint ยป Your Trusted Source for Mortgage Banking and Servicing News 16 May 2025 M O V E R S & S H A K E R S Movers & Shakers Government GINNIE MAE INTRODUCES NEW EVP/COO Ginnie Mae has named Joseph M. Gormley as its new EVP and COO, tasked with overseeing Ginnie Mae's mission to support stability in the nation's housing markets. Gormley held several senior roles at the U.S. Department of Housing and Urban Development (HUD), includ- ing Deputy Assistant Secretary for Single-Family Housing at the Federal Housing Administration (FHA), and Chief of Staff to the Deputy Secretary. Before his tenure at HUD, Gormley served as Assistant VP and Regulatory Counsel at the Independent Commu- nity Bankers of America (ICBA), where he focused on federal regulatory policy and compliance matters affecting com- munity bankers. He also held positions at the Mortgage Bankers Association (MBA) and the Financial Industry Reg- ulatory Authority (FINRA), where he advised on housing finance and capital markets regulation. "I am very happy to see Joe Gormley take the helm at Ginnie Mae as Execu- tive Vice President and Chief Operating Officer," HUD Secretary Scott Turner said. "With Ginnie Mae's central role in mortgage financing, his leadership will bring stability and strength to this segment of the housing market." As EVP and COO, Gormley will lead Ginnie Mae's strategic initiatives, operational functions, and risk-man- agement efforts, ensuring that the organization remains focused so that its programs are delivered efficiently, responsibly, and sustainably. "I am honored to join Ginnie Mae and contribute to its important mission," Gormley said. "I look forward to working with the dedicated team at the agency to strengthen and enhance the role of the MBS program in serving homeowners and renters across the country." Sam I. Valverde, former Acting Pres- ident of Ginnie Mae, resigned from his role November 30, 2024. Valverde served in the Biden administration as the Acting President of Ginnie Mae since May 2024, after previously holding the roles of Principal EVP and COO, since joining the organization in March 2022. "Joe Gormley has been a valued voice in the housing community for years, and his appointment is a wel- come development for independent mortgage lenders and the homeowners we serve," said Scott Olson, Executive Director of Community Home Lend- ers of America (CHLA), a nonprofit association that focuses on small- and mid-sized community-based mort- gage lenders. "His knowledge of the challenges faced by community lenders makes him a strong asset to Ginnie Mae at a critical time for the market." EX-BOFA EXEC NAMED TO FANNIE MAE BOARD Federal Housing Finance Agency (FHFA) Director William Pulte has announced the appointment of former Bank of America Managing Director and Founder/CEO of Farvahar Partners Omeed Malik as a member of Fannie Mae's Board of Directors. "Under President Trump, housing will enter its Golden Age," said FHFA Director Pulte on X. "To have the best and brightest, Omeed Malik will be joining the Board of Fannie Mae, effec- tively immediately! Omeed brings great capital markets, legal and investment experience as we Make Fannie and Freddie Great Again!" Malik is Founder and CEO of Far- vahar Partners, a boutique investment bank and broker/dealer which acts as an advisor and liquidity provider to high growth venture backed companies and institutional investors. Malik is also the President of 1789 Capital, an invest- ment firm that provides financing to companies in the Entrepreneurship, In- novation & Growth (EIG) economy, and is the Chairman and CEO of Colombier Acquisition Corporation, a publicly traded Special Purpose Acquisition Company (SPAC) listed on the NYSE. Prior to starting his own firm, Malik was a Managing Director and the Global Head of the Hedge Fund Advisory Business at Bank of America Merrill Lynch. He was also the Founder and Head of the Emerging Manager Program within the Global Equities business. In this capacity, Malik was charged with selecting both established and new hedge funds for the firm to partner with and oversaw the allocation of financing/prime brokerage, capital strategy, business consulting, and talent introduction resources. Prior to joining Bank of America Merrill Lynch, Malik was SVP with MF Global, where he helped reorganize the firm's distribution platform globally and developed execution and clearing relationships with institutional clients. An experienced financial services professional and securities attorney, Malik was a corporate lawyer at Weil, Gotshal & Manges LLP working on transactional matters in the capital markets, corporate governance, private equity, and bankruptcy fields. He has also worked in the U.S. Senate and House of Representatives. Malik joins Fannie Mae's