SAN FRANCISCO, – The Federal Home Loan Bank of San Francisco announced today that Alanna McCargo will be the new president and CEO, succeeding Teresa Bryce Bazemore.
McCargo, the former President of the Government National Mortgage Association (Ginnie Mae), is notable for being the first woman and woman of color in that role.
At Ginnie Mae, she connected the U.S. housing market with capital markets to support federal housing programs through several U.S. departments.
Dan Siciliano, chair of the bank’s board, expressed confidence in McCargo’s ability to drive the bank’s initiatives forward, noting her blend of private and public sector experience. McCargo has a track record of addressing the nation’s housing affordability issues and advocating for economic policies that aim to close racial homeownership and wealth gaps.
Before her tenure at Ginnie Mae, McCargo was appointed by President Joe Biden and confirmed with bipartisan support from the U.S. Senate. She has held various significant positions, including senior advisor for housing finance at HUD under Marcia Fudge, and vice president at the Housing Finance Policy Center at the Urban Institute. Her previous roles also include leadership positions at CoreLogic, JP Morgan Chase, and Fannie Mae.
McCargo shared her enthusiasm about leading the bank to support essential liquidity for its members and to further its mission of promoting affordable housing and community investment in Arizona, California, and Nevada. Her career has focused on enhancing housing affordability, economic opportunity, and managing housing finance complexities.
Marcia Fudge, former HUD Secretary, praised McCargo’s effective leadership at Ginnie Mae, highlighting her role in aligning the agency with its core objectives and building strong industry relationships.
McCargo will begin her new role on June 10, 2024. Teresa Bryce Bazemore will assist in the transition until the end of June, after which she will serve as an executive vice president and senior advisor through August 2024.
The Federal Home Loan Bank of San Francisco is a member-owned cooperative that provides liquidity to local lenders in Arizona, California, and Nevada, aiming to strengthen communities and enhance economic opportunities.
Meanwhile, Linda McMahon has been selected as CEO of Dallas Economic Development Corp.
