Joseph Gormley
The data on this page comes from a financial disclosure filed by Joseph Gormley, who was picked to be: President, Government National Mortgage Association, Department of Housing and Urban Development. It is part of a collection of thousands of ethics documents ProPublica has been collecting from across the Trump administration.
Roles Outside Government
Officials are required to disclose paid or unpaid positions they hold or recently held outside the federal government, including roles as officer, director, trustee or employee. (Form 278e, Part 1)
Employment Assets
Officials are required to disclose assets associated with their employment, including salary, retirement accounts, stocks, intellectual property and awards or prizes. (Form 278e, Part 2)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| Archwell Holdings, LLC (holding company: financial services) | $965K | Salary/Bonus | 1 | ||
| Roth IRA: | 2 | ||||
| Adams Diversified Equity Fund (ADX) | $1,001 - $15,000 | None (or less than $201) | 2.1 | ||
| Apple, Inc. (AAPL) | $1,001 - $15,000 | None (or less than $201) | 2.2 | ||
| Snowflake Inc. Class A Common Stock (SNOW) | $1,001 - $15,000 | None (or less than $201) | 2.3 | ||
| Archwell Holdings, 401(k) plan: | 3 | ||||
| BlackRock LifePath Index 2050 Fund Class K Shares (LIPKX) | $50,001 - $100K | None (or less than $201) | 3.1 | ||
| Freedom Mortgage Corporation, 401(k) plan: | 4 | ||||
| BlackRock LifePath Index 2045 Fund Class K Shares (LIHKX) | $50,001 - $100K | None (or less than $201) | 4.1 | ||
| Mortgage Bankers Association, 401(k) plan: | 5 | ||||
| MM S&P 500 Index Fund Class I Shares (MMIZX) | $15,001 - $50,000 | None (or less than $201) | 5.1 | ||
| BlackRock LifePath Index 2045 Fund Class K Shares (LIHKX) | $15,001 - $50,000 | None (or less than $201) | 5.2 | ||
| PIMCO Income Fund Institutional Class Shares (PIMIX) | $1,001 - $15,000 | None (or less than $201) | 5.3 | ||
| Traditional IRA: | 6 | ||||
| Vanguard Target Retirement 2050 Fund Investor Class Shares (VFIFX) | $50,001 - $100K | None (or less than $201) | 6.1 |
Employment Agreements
Officials are required to disclose agreements relating to other jobs, including what will happen with any small businesses they own during government service and any continued health care coverage, planned leaves of absence, severance or bonuses. (Form 278e, Part 3)
| Organization | Agreement | Endnote | Line No. |
|---|---|---|---|
| Archwell Holdings | I continue to participate in this defined contribution plan. The plan sponsor ceased making contributions at my separation. (2023-10-01) | 1 | |
| Freedom Mortgage Corporation | I continue to participate in this defined contribution plan. The plan sponsor ceased making contributions at my separation. (2021-03-01) | 2 | |
| Mortgage Bankers Association | I continue to participate in this defined contribution plan. The plan sponsor ceased making contributions at my separation. (2013-01-01) | 3 |
Compensation
Officials are required to disclose the sources of any compensation above $5,000 in a year. (Form 278e, Part 4)
Spouse’s Assets
Officials are required to disclose their spouse’s assets, including salary and retirement accounts worth more than $1,000. (Form 278e, Part 5)
Other Assets and Income
Officials are required to disclose other assets and sources of investment income belonging to them, their spouse or their dependent children. These include annuities, bonds, cash, college savings plans, farms, precious metals, real estate, stocks, trusts and wills. (Form 278e, Part 6)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| U.S. Bank #1 (Cash) | $100K - $250K | None (or less than $201) | 1 | ||
| Verizon Communications, Inc. (VZ) | $1,001 - $15,000 | None (or less than $201) | 2 | ||
| U.S. brokerage account (Cash) | $1,001 - $15,000 | None (or less than $201) | 3 | ||
| PIMCO Income Fund Institutional Class Shares (PIMIX) | $1,001 - $15,000 | None (or less than $201) | 4 | ||
| American Funds 2050 Target Date Retirement Fund Class R6 Shs (RFITX) | $1,001 - $15,000 | None (or less than $201) | 5 | ||
| Adams Diversified Equity Fund (ADX) | $1,001 - $15,000 | None (or less than $201) | 6 | ||
| Maryland 529 Plan, DC #1: | 7 | ||||
| T ROWE PRICE College Investment Portfolio 2033 | $15,001 - $50,000 | None (or less than $201) | 7.1 | ||
| Maryland 529 Plan, DC #2: | 8 | ||||
| T ROWE PRICE College Investment Portfolio 2036 | $15,001 - $50,000 | None (or less than $201) | 8.1 | ||
| Maryland 529 Plan, DC #1: | 9 | ||||
| T ROWE PRICE College Investment Portfolio 2036 | $1,001 - $15,000 | None (or less than $201) | 9.1 | ||
| Maryland 529 Plan, DC #2: | 10 | ||||
| T ROWE PRICE College Investment Portfolio 2036 | $1,001 - $15,000 | None (or less than $201) | 10.1 |
Liabilities
Officials are required to disclose their liabilities totaling more than $10,000, as well as any linked to their spouse or dependent children. These include mortgages, credit card debt and student loans. The interest rates and loan repayment terms are also required. (Form 278e, Part 8)
| Creditor | Description | Endnote | Line No. |
|---|---|---|---|
| Citizens Bank | type: Mortgage on Personal Residence, amount: $500,001 - $1,000,000, year-incurred: 2021, rate: 2.625%, term: 30 years | 1 | |
| US DEPT Education | type: Student Loan, amount: $15,001 - $50,000, year-incurred: 2010, rate: 8.25%, term: 25 years | 2 | |
| SOFI | type: Student Loan, amount: $15,001 - $50,000, year-incurred: 2019, rate: 4.593%, term: 15 years | 3 | |
| SOFI | type: Student Loan, amount: $50,001 - $100,000, year-incurred: 2019, rate: 4.706%, term: 15 years | 4 | |
| US Dept of Education | type: Student Loan, amount: $15,001 - $50,000, year-incurred: 2010, rate: 5.5%, term: 27.5 years | 5 | |
| US Dept of Education | type: Student Loan, amount: $15,001 - $50,000, year-incurred: 2010, rate: 5.5%, term: 27.5 years | 6 |
About the Data
Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These are documents that detail their financial holdings, positions they hold outside government, their spouse’s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period.
The most senior officials file their disclosures with an agency called the Office of Government Ethics, and others file them with a designated ethics official within their agency. The Ethics in Government Act allows members of the public and the press to request these documents.
We’re publishing this information to give the public an important glimpse into the financial ties of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.
The main document type included in the database is the OGE Form 278e, which appointees must file when they are nominated (for Senate-confirmed appointees) or when they enter government (all others), and then annually while in the position. Another common document included is the OGE Form 278-T, also known as a periodic transaction report, which all public filers must submit within 30 days of a transaction. We are also making other ethics documents available, such as ethics agreements, certificates of divestiture and other documents we have obtained under the Ethics in Government Act.
