Key Ginnie Mae Official Quits to Join Industry Group, Source Says
- Bright was Trump’s pick to lead U.S.-owned mortgage guarantor
- He’s joining trade group for structured finance investors
This article is for subscribers only.
Michael Bright has stepped down from running Ginnie Mae to join a trade group, according to a person with knowledge of the matter.
Bright, who has been chief operating officer of the government-owned mortgage guarantor since July 2017, will be joining the Structured Finance Industry Group as its president, the person said, asking not to be named because the move hasn’t been announced. Bright was nominated by President Donald Trump last year to become Ginnie Mae’s president and had bipartisan support on the Senate Banking Committee. He didn’t get a confirmation vote from the full Senate.