Former Ginnie Mae official joins Housing Policy Council

The Housing Policy Council (HPC) announced on Wednesday that it has appointed Michael Drayne as its new senior vice president of capital markets, effective July 1.

Drayne has three decades of capital markets experience. He served from 2011 to 2023 in various roles at government-owned company Ginnie Mae, where he helped to manage different elements of the mortgage-backed securities (MBS) programs. He most recently served the company as senior vice president of strategic planning and policy, stepping down last year to serve as a private consultant.

From 2012 to 2019, Drayne served Ginnie Mae as SVP in the office of issuer and portfolio management. During this time, Drayne was elevated to the role of acting executive vice president to oversee all company operations following the abrupt resignation of former EVP and chief operating officer Maren Kasper, who herself assumed the leadership role after the similarly suddent resignation of former EVP and COO Michael Bright.

According to the HPC, Drayne will serve the organization to advance its policy and advocacy work, with a focus on mortgage-backed securitization and capital markets along with technology and cybersecurity issues that face the housing finance sector.

“We are excited for Michael to join the team,” HPC President Ed DeMarco said in a statement. “His outstanding background leading policy and capital markets work at Ginnie Mae and his two plus decades working within mortgage banking institutions make him an ideal addition to our team.

“Michael will be a key player in HPC’s efforts to identify and promote policies that contribute to the type of sound risk management practices that can support the reliable flow of cash into our housing finance system.”

Drayne helped to coordinate the federal capital markets response to the COVID-19 pandemic between 2020 and 2023, and for his first seven years at Ginnie Mae, assisted in the development of policy and relationships with MBS program participants. He also oversaw MBS participants through enforcement actions and helped to manage interagency relationships.