Ex-housing official Alanna McCargo back at Urban Institute

Alanna McCargo announced Tuesday via LinkedIn that she has returned to the Urban Institute as a nonresident fellow.

The former Ginnie Mae president wrote that she is rejoining the think tank at a time when there are "significant policy challenges ahead for affordability, community investment and inclusive finance."

This move follows an announcement earlier this year that the housing industry veteran would step down from her role as president and CEO of the Federal Home Loan Banks of San Francisco.

"Amid rapid change driven by economic, environmental, and social forces, ensuring access to capital, advancing inclusion, and promoting sustainable policy are more critical than ever," McCargo wrote in addressing her move back to UI. "It is an honor to return to the Urban Institute to help expand research, data analysis, and partnerships that drive equitable housing, economic opportunity, and community resilience."

McCargo previously spent five years at the Urban Institute, working from 2016 to 2021 as a vice president in its Housing Finance Policy Center. After her time at the organization, she served as a senior advisor to the Department of Housing and Urban Development's Secretary Marcia Fudge from January to December 2021, LinkedIn shows.

She then led Ginnie Mae as a Senate-confirmed president through the end of 2024, guiding the agency through the COVID-19 pandemic and a volatile interest-rate cycle that strained some of its mortgage company counterparties. Her departure marked the end of a historic tenure as Ginnie Mae's first female president. 

In May 2024, McCargo announced she would become president and CEO of the Federal Home Loan Bank of San Francisco. However, her tenure was short-lived as earlier this year she announced her departure from the regional bank and plans of returning to Washington, D.C., to serve as an advisor to it.

The FHLBank declined to comment on the reason for the change.