Joseph Murin tapped to lead Ginnie MaeMortgagePress.comGinnie Mae, GSE, Joseph Murin, Government National Mortgage Association, Stephen Preston
Joseph Murin has become the 16th president of the Government
National Mortgage Association (Ginnie Mae), after the U.S. Senate
confirmed his nomination to lead the government corporation. Murin,
who brings over 35 years of mortgage and banking industry
experience to Ginnie Mae, promised to continue increasing access to
affordable housing for low- to moderate-income families and
fostering stability to the nation's troubled housing market.
"This is a critical time in the housing industry," said Joseph
J. Murin, president of Ginnie Mae. "It is clear that the market
needs safety and security and that is exactly what Ginnie Mae
offers - reliable mortgage securitization products that are backed
by the full faith and credit of the U.S. As president, I will make
sure Ginnie Mae works hard to bring stability back to the
U.S. Housing and Urban Development Secretary Stephen Preston
swore in Murin during a private ceremony.
"In recent months we have seen just how important Ginnie Mae is
to the mortgage finance industry," said Preston. "Adding an
executive with Joe Murin's depth of experience and leadership
qualities will only enhance what Ginnie Mae has to offer the
secondary market. I look forward to working with him as we continue
to expand affordable housing opportunities to more Americans."
During his confirmation hearing before the Senate Banking
Committee, Murin also offered his commitment to expanding
affordable housing. Murin said, "Ginnie Mae may be in the best
position to meet its mission since its inception. Even with the
challenges that face us, we can continue to help American families
become homeowners. I am committed to making a difference in lives
Prior to his confirmation, Murin served as the managing partner
of the Mortgage Settlement Network LLC in Pittsburgh, Pa. There, he
used this experience to establish and execute its strategic
direction and was the driving force behind the company's long-range
plans and objectives. Mr. Murin sold the Mortgage Settlement
Network in August 2007.
Murin joined Basis100 in December 2001 as the company's
president and chief operating officer. One year later, he became
the chief executive officer of the Toronto-based technology
company, which is responsible for the development of the Canadian
Bond trading system, as well as the current Automated Property
Valuation (AVM) offering, which is currently utilized in the U.S.
real estate market.
Murin has served in a variety of executive positions during his
extensive career, including a tenure as president of Century
Mortgage and regional president of American Pioneer Savings, both
Murin holds a bachelor's degree in business from National Louis
University. Murin and his wife, Angela, have two married daughters
and three grandchildren.
For more information, visit www.ginniemae.gov.