Fudge Joins Law Firm
Former Department of Housing and Urban Development (HUD) secretary Marcia Fudge has joined the Taft law firm as a partner and firmwide chair of public policy.
She will dedicate a portion of her time to the firm’s efforts to combat the harmful effects of per- and polyfluoroalkyl substances, often known as “forever chemicals.” Her significant experience and outstanding reputation will be invaluable to Taft’s clients, while also bolstering the firm’s relationships with governmental and corporate leaders both in her home state of Ohio and across the United States, said firm leaders.
Fudge served as the nation’s top housing official in the Biden administration for three years before retiring from the role in March. Prior to joining the agency, she served in the U.S. House of Representatives, representing the 11th Congressional District of Ohio from 2008 to 2011. Fudge earned a law degree from the Cleveland-Marshall College of Law at Cleveland State University.
Ranked in the prestigious Am Law 100 as the 83rd largest firm in the United States in 2024 by revenue, Taft has approximately 875 attorneys spread across nine major markets—eight in the Midwest as well as Washington, D.C.
McCargo to Lead FHLBank San Francisco
Alanna McCargo has been appointed president and CEO of the Federal Home Loan Bank (FHLBank) of San Francisco. She steps into the post after recently serving as president of the Government National Mortgage Association (Ginnie Mae).
Prior to leading Ginnie Mae—to which she was nominated by President Joe Biden and confirmed by the U.S. Senate—she served as senior adviser for housing finance at HUD and was vice president of the Housing Finance Policy Center at the Urban Institute. McCargo previously held leadership positions at CoreLogic, JPMorgan Chase, and Fannie Mae.
McCargo will officially join the bank June 10. To ensure a smooth leadership transition, Teresa Bryce Bazemore, current president and CEO, will continue to lead the bank until McCargo’s first day on the job. Then, Bazemore will stay on through the end of June as executive vice president and senior adviser. Bazemore has also agreed to serve as a consultant for the bank through the end of August.
Wallick Appoints SVP
Derrick Young has been named senior vice president of affordable housing operations at Wallick, a leading affordable housing and senior-living company based in Columbus, Ohio.
In his new role, Young will lead Wallick’s affordable housing operations team and its efforts to provide residents with safe and decent homes. This includes maintaining compliance with state, federal, and other affordable program regulations, occupancy standards, and optimal operating performance for Wallick’s portfolio of more than 200 affordable communities.
Young served as vice president of property management at MidPen Housing, in Foster City, California, one of the nation’s leading nonprofit affordable development and management companies. He guided daily operations of the company’s largest division and oversaw an affordable housing portfolio spanning 9,600 apartment homes across 125 communities.
With more than 1,100 associates, Wallick manages more than 200 affordable and senior communities across the Midwest, having developed and built more than 400 communities throughout its history.
National Church Residences Names Senior Project Leader
Tim Westrich has joined the National Church Residences development team as a senior project leader for affordable housing.
He will concentrate on affordable housing development opportunities primarily in the Midwest, focusing on Ohio. Westrich will oversee new construction and preservation developments, including deal sourcing in targeted markets, preliminary deal evaluation, negotiation of purchases and related documents, procurement of financing, management of third-party consultants, and coordination of internal resources to ensure successful financial closings.
He previously served as vice president of affordable housing at Urban Sites, a development and construction company that specializes in preserving and revitalizing urban neighborhoods.
Merchants Capital Promotes Gibson
Evan Gibson has been promoted to executive vice president, capital markets, at Merchants Capital. He leads the platform that creates liquidity and capital relief for Merchants Bank and aids Merchants Capital in providing financing solutions for multifamily and affordable housing developments nationwide. He previously served as senior vice president.
Gibson’s team has securitized or transferred risk on more than $5.2 billion in multifamily and health care loans from Merchants Bank’s balance sheet, resulting in significant capital relief. The team has expanded Merchants’ pool of institutional investors and risk transfer structures, assumed greater ownership in investor relations, and executed multiple innovative securitizations under the Freddie Mac Q-Series program.
Gibson originated Merchants’ capital markets platform in 2020, growing it from a one-person operation to a team that plays a strategic role in the Merchants ecosystem.
CHFA Promotes Johnson to COO
Steve Johnson has been appointed chief operating officer at the Colorado Housing and Finance Authority (CHFA). He steps into the post after serving as director of community development and a member of CHFA’s leadership team since 2010.
As COO, Johnson will manage the agency’s overall operations, reporting directly to the executive director and CEO and working closely with other members of CHFA’s executive team to execute strategic objectives in pursuit of its mission. He will provide direct oversight to the asset management, community development, home finance, and research and strategy divisions.
Johnson has been with the organization since 1996.
DCHFA Adds to Team
Carmelita Turner has joined the District of Columbia Housing Finance Agency (DCHFA) as its business development and outreach manager. She brings extensive expertise as a licensed Realtor, along with proficiency across diverse lines of insurance, leveraging over two decades of educational experience.
Having successfully undergone training as a mortgage loan originator, Turner is pursuing a doctorate in law and policy. Furthermore, she demonstrates active participation in industry associations and actively advocates for "democracy in housing" through her involvement with the National Association of Real Estate Brokers.
