President Bush intends to nominate former Mortgage Bankers Association chairman Rob Couch to be the new president of Ginnie Mae, according to the White House.Mr. Couch, who is the president of New South Federal Savings Bank, Birmingham, Ala., has a legal and accounting background. The Ginnie Mae post has been vacant since Ronald Rosenfeld left in December 2004 to become the director of the Federal Housing Finance Board. Michael Frenz, Ginnie Mae's executive vice president, has been in charge of the secondary-market agency since then. Ginnie Mae guarantees pools of government-insured residential and multifamily mortgages that are securitized by private issuers. It can be found online at http://www.ginniemae.gov.
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