Stephen L. Ledbetter, senior vice president of MBS for the Ginnie Mae, is leaving the agency for a senior position at the Federal Deposit Insurance Corp. (FDIC), according to officials familiar with the matter.

Ledbetter has been with Ginnie Mae for almost a decade. A spokeswoman for Ginnie Mae said the agency generally does not comment on personnel matters.

As the head of MBS at Ginnie Mae, he is responsible for the operations side of all securities-related programs, and has oversight of roughly 200 active issuers.

He is expected to join the bank regulator in the next few weeks.

This will be Ledbetter's second stint at FDIC. From 1992 to 1999 he served in several positions at the agency, including chief of assessments evaluation in the Division of Finance.

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