WASHINGTON, D.C. – (RealEstateRama) — Ginnie Mae today announced that Nancy Corsiglia will join Ginnie Mae as Executive Vice President and Chief Operating Officer, reporting to President Ted Tozer.
Corsiglia will administer Ginnie Mae’s $1.7 trillion Mortgage-Backed Securities (MBS) and Real Estate Mortgage Investment Conduit (REMIC) programs. She will also be responsible for managing Ginnie Mae’s daily operations, including all MBS operations, counterparty relationships, contracting, budget and legislative initiatives, and overall risk management.
Additionally, Corsiglia will maintain liaisons with key officials and executives of housing and securities industries, the investment community, members of Congress, and other departments and agencies of the federal government. Corsiglia replaces Mary Kinney, who retired in February 2016.
“We are thrilled to have someone with Nancy’s extensive secondary mortgage market knowledge join the team at Ginnie Mae,” said President Ted Tozer. “She has demonstrated extraordinary leadership throughout her career and has a proven track record. Nancy will play an important role in moving Ginnie Mae forward as the industry continues its transformation following the housing crisis.”
Corsiglia brings more than 25 years of financial services and mortgage industry experience to her role at Ginnie Mae. Prior to joining Ginnie Mae, she was a Managing Director at the Devonshire Advisory Group. She has also served in a variety of positions at Federal Agricultural Mortgage Corporation (Farmer Mac), including Executive Vice President, Chief Financial Officer and Vice President of Business Development. Corsiglia has an MBA degree from the Tuck School of Business at Dartmouth and an AB degree in Economics from Smith College.
“This is one of the most unique and exciting positions in the housing finance industry,” Corsiglia said. “I look forward to the opportunity to work with Ginnie Mae staff as they continue to innovate and evolve during one of the most challenging eras in the history of housing finance.”
About Ginnie Mae
Ginnie Mae is a wholly-owned government corporation within the U.S. Department of Housing and Urban Development. Ginnie Mae pioneered the MBS, guaranteeing the very first security in 1970, and raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities across the country. Through its MBS, Ginnie Mae finances housing mortgage insurance programs run by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH), and the Department of Agriculture’s Rural Housing Service. Ginnie Mae securities carry the full faith and credit of the United States Government.
Contact: Gina Screen