Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.
Acting Ginnie Mae President Michael Bright will leave his post on January 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.
The House Financial Services Committee held a hearing to examine the outgoing committee chairman's bipartisan GSE reform bill, but lawmakers were already looking ahead.
The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.
At least six Trump administration picks to fill financial posts are still pending, but the bitterly partisan divide over Judge Brett Kavanaugh has taken up most of the energy in Congress.
Readers react to a new housing finance reform plan, weigh systemic risks posed by fintechs, debate the potential return of the Glass-Steagall Act and more.
Housing finance reform is still likely years away, but a growing chorus of lawmakers say the government guarantor has the ability to clear the path to a final plan.
The departing House Financial Services chair unveiled a bill with Democrat John Delaney to repeal Fannie and Freddie's charters and establish Ginnie Mae as a backstop.
