Senate Committee Approves HUD, Ginnie Mae Nominations

MBA (6/4/2008 ) Sorohan, Mike
The Senate Banking Committee yesterday approved nominations of several key appointees for positions involving the real estate finance industry. The Mortgage Bankers Association and other industry trade groups earlier sent a letter of support for the nominees.
The committee approved the nominations of Joseph Murin as president of Ginnie Mae; Susan Peppler as HUD assistant secretary of community planning and development; and Sheila McNamara Greenwood as HUD assistant secretary for congressional and intergovernmental relations.

MBA had urged approval of these nominees. In a June 2 letter to committee chairman Christopher Dodd, D-Conn., and ranking member Richard Shelby, R-Ala., MBA, the American Financial Services Association, the Consumer Mortgage Coalition and the Housing Policy Council asked the Committee to "quickly consider" the nominations.

"As the mortgage and housing markets continue to work through this period of severe instability, we...believe that a fully functioning (HUD) is vitally important to address the situation," MBA and the trade groups said.

Murin's nomination is "vitally important," the letter said. "The position of Ginnie Mae president requires leadership skills and proficient banking experience, qualifications Mr. Murin possesses. He has 35 years of mortgage and banking industry experience and understands the very dynamic mortgage market in which Ginnie Mae operates. His demonstrated leadership abilities and extensive industry experience makes Mr. Murin an excellent choice to become the next President of Ginnie Mae.”

Likewise, the letter supports Peppler, former mayor of Redlands, Calif., as someone with great experience in community building and brings a strong commitment to public service;” and McNamara Greenwood, current HUD Deputy Chief of Staff, as someone who would “be in a position to provide real-time intelligence to policymakers and to convey the department’s goals and actions to different audiences. Her distinguished service until now suggests she will be very successful in this important new role.”

The nominations now go the full Senate for approval.