The government-owned company responsible for a large portion of secondary mortgage market activity has appointed a new senior leader.

Ginnie Mae has appointed Joseph Gormley to serve as its new executive vice president and chief operating officer. He will oversee the company’s overarching mission to support stability across U.S. housing markets, the company said on Wednesday.

“I am very happy to see Joe Gormley take the helm at Ginnie Mae as Executive Vice President and Chief Operating Officer,” said Scott Turner, secretary of the U.S. Department of Housing and Urban Development (HUD). “With Ginnie Mae’s central role details ⇒

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