Washington (CNN) The Trump administration is losing another agency head -- and this one hasn't even been confirmed yet.

Michael Bright has been effectively running the federal mortgage backer Ginnie Mae as chief operating officer since 2017.

Bright was formally nominated to take over the post last May, but his confirmation has been bottled up in the Senate. Late Wednesday, the Department of Housing and Urban Development announced that Bright had submitted his resignation, effective January 16.

On Thursday morning, his new job was revealed : Bright has been hired as CEO of the Structured Finance Industry Group, a trade association for businesses that work in mortgage-backed securities and other forms of debt. According to the group's press release, Bright will "help SFIG reinforce the understanding that securitization is an essential source of core funding for the real economy."

In leaving with only a few months on the job, Bright joins a merry-go-round of administration officials, with the White House scrambling to fill critical positions at the Departments of Justice and Defense.

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