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3/18/2024

​WASHINGTON, D.C.—On Thursday, March 14, 2024, Ginnie Mae hosted its inaugural U.S.-Latin America Investor Roundtable at the U.S. Department of Housing and Urban Development headquarters in Washington, D.C. With support from the Inter-American Development Bank (IDB), the event brought together more than 150 in-person and virtual participants from throughout Latin America and the Caribbean to discuss housing finance in a social impact and sustainability framework.

The daylong program drew senior government officials and industry leaders from Mexico, Brazil, Peru, Colombia, Guatemala, Chile, Panama, El Salvador, Dominican Republic, Trinidad and Tobago, Korea, and Japan together for panel discussions focused on— 

  • ​The expansion of housing finance availability through the use of portfolio lending or capital markets funding. 
  • A government’s role in promoting social and sustainable lending. 
  • Innovation in housing finance. 
  • ​​​​Sustainable housing and climate risk.

The wide-ranging discussions identified shared challenges and opportunities across the region while reaffirming commitments to best practices and knowledge-sharing in the collective pursuit of solutions for more affordable and environmentally friendly housing and housing finance options.

“Ginnie Mae’s work is instrumental to efforts to expand access to housing finance in the United States and around the world,” said HUD Secretary Marcia L. Fudge. “This roundtable brought a historic assembly of global leaders together to tackle the biggest issues in housing, including social and sustainable lending, and innovation in housing finance.”

“Housing affordability and community development is a central part of the many policy and economic priorities we share across the Americas,” said Ginnie Mae President Alanna McCargo. “Our collaboration with the Inter-American Development Bank and the organizations that participated in the roundtable is a start of collective work to pursue avenues to increase the affordable housing supply and help more households access safe and affordable rental and homeownership opportunities.”

“Despite differences in the structure of our housing finance systems, we all face similar challenges, such as natural disasters, affordability, and reaching underserved populations,” said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon. “Sharing ideas and approaches is a way to highlight successful innovations and to enrich all our programs, underscoring the importance of our role as a global partner.”

Recordings of the sessions will be made available on the Ginnie Mae website in the coming weeks.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly known as Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

​​Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.​


3/11/2024

For the last three years, Secretary Marcia L. Fudge has led the Department of Housing and Urban Development fearlessly and passionately as our 18th Secretary. It has been a great honor to serve under her leadership for her entire tenure, first as her Senior Advisor for Housing Finance, and since 2021, as the President of the Government National Mortgage Association (Ginnie Mae). Secretary Fudge has made history and changed the trajectory of HUD for the future.

During her time leading HUD, Secretary Fudge has been a fierce advocate and bold voice for affordable, fair housing for every American, and has championed efforts to right past wrongs and ensure that historically underserved communities have access to housing and the opportunity to achieve the American Dream. During my time in the Secretary’s office, she pioneered historic initiatives, has challenged me and the entire team to think big and be bold for the good of the people and this country, enabling groundbreaking work across government to address critical issues related to housing equity, fair housing, and fair lending. Secretary Fudge has been relentless in her support of Ginnie Mae and fully understands the crucial housing finance role the agency plays in serving low- and moderate-income households, first-time homebuyers, veterans, seniors, and tribal and rural communities. Under her tenure, not only has our portfolio reached historic highs of over $2.54 trillion in outstanding Mortgage-Backed Securities (MBS), but in fiscal year 2024, Ginnie Mae has been appropriated the highest annual budget increase in its history. Those resources will go a long way in strengthening our program and the secondary market, further empowering Ginnie Mae’s critical role within HUD as a multiplying force for government mortgage programs.

Secretary Fudge departs the Biden-Harris administration with a long, successful career as a public servant, and her legacy will have a lasting effect for HUD, Ginnie Mae, and the institutions and Americans we serve. On behalf of Ginnie Mae, I express my deepest gratitude to Secretary Fudge for her passion, visionary leadership, and above all her friendship and kindness. Madam Secretary, your legacy and impact will be enduring. We wish you well in your nex​t chapter and thank you for your remarkable service to​​​ our country. ​

​​
3/9/2024

I am heartened that the FY24 funding bill provides an additional $550 billion in commitment authority for our guaranteed loan program and supports Ginnie Mae’s salaries and expense (S&E) budget at $54 million, a 34 percent increase year-over-year (YoY), representing the largest annual amount and YoY dollar amount increase in our corporation’s 55-year history.

The funding levels enacted in this budget represent the fundamental value of Ginnie Mae’s crucial work within the Department of Housing and Urban Development to further our housing finance mission and to support affordable housing finance and attract capital to the U.S. Housing market from across the globe.

A full year funding bill is critical to our ability to plan long-term and sustain the portfolio growth Ginnie Mae has experienced over the past decade. This funding will provide Ginnie Mae with the human resources needed to effectively carry out our housing finance mission and execute on our full faith and credit guaranty for global investors and with our national issuer base. The FY24 funding will also ensure Ginnie Mae can continue to prepare for, mitigate, and respond to emerging risks in the market, including cybersecurity threats to our Issuers, and modernize the securitization program to remain competitive, and be of service to the federal government mortgage market.

Ginnie Mae has been and will continue to be a responsible steward of American taxpayers’ dollars, and provides significant returns for the American public, both as homeowners and renters, and as taxpayers. Each year, Ginnie Mae generates revenue for the federal government, more than offsetting its annual S&E appropriations and overall expenditures several times over. Looking back at FY23​, Ginnie Mae contributed roughly $1.5 billion in receipts to the U.S. government, and its Ginnie Mae’s programs supported more than 1.2 million households including veterans, service members, low-to-moderate income borrowers, seniors, and urban, rural, tribal, and underserved communities. Mortgage-backed securities (MBS) issuance topped $404 billion, with Ginnie Mae MBS outstanding reaching an historic high of over $2.5 trillion, representing 35 percent of the total MBS market. These numbers reflect portfolio growth of $188.4 billion, a year-over-year increase of 8.3 percent.

Ginnie Mae’s growth in funding in the FY24 appropriations bill represents progress toward a key goal the Administration has had to right size the agency and is a testament to the hard work, talent, and dedication of the public servants who carry out our mission every day. Ginnie Mae is the engine for government mortgage lending programs, and we are grateful that policymakers recognize and have provided meaningful support to sustain the program. ​

​Additional information about Ginnie Mae is available at www.ginniemae.gov​ and on X (formerly Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.

3/7/2024

Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.54 trillion in February, including $30.9 billion of total MBS issuance, leading to $11.4 billion of net growth. February’s new MBS issuance supports the financing of more than 96,000 households, including more than 44,000 first-time homebuyers. Approximately 69.8 percent of the February MBS issuance reflects new mortgages that support home purchases.

The February issuance includes $30 billion of Ginnie Mae II MBS and nearly $894 million of Ginnie Mae I MBS, including nearly $816 million in loans for multifamily housing.

For the 2024 calendar year to date, Ginnie Mae has supported the pooling and securitization of more than 91,000 first-time homebuyer loans.

For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure​.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly known as Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

​​Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.​

3/4/2024

WASHINGTON, D.C. – Today, in All Participants Memorandum (APM) 24-02, Ginnie Mae announced the implementation of new Cybersecurity Incident reporting requirements. These requirements are part of Ginnie Mae’s continued commitment to the security and integrity of all operational systems and critical technology infrastructure related to the issuance and servicing of Ginnie Mae Mortgage-Backed Securities (MBS).

Effective immediately, Issuers must notify Ginnie Mae of a cyber security incident within 48 hours of detection. A Cybersecurity Incident is any unauthorized access to, or use, disclosure, alteration, transfer, or destruction of, confidential information or non-public personal information (NPI) that may impact the Issuer’s ability to meet its obligations under the terms of the Guaranty Agreement. Issuers who subservice for others are required to notify Ginnie Mae whether the incident occurred to their own portfolio, and/or one or more subserviced portfolios.

Once the notification is received, representatives from Ginnie Mae will contact the designated point of contact to obtain additional information and establish the level of engagement needed depending on the scope and nature of the incident.

“These Cybersecurity Incident Reporting requirements are an important part of managing cyber risk that could impact our program,” said Ginnie Mae President Alanna McCargo. “Prompt and clear communication is critical to managing cybersecurity events as they unfold. This new requirement is an important step in further enhancing our cybersecurity framework to meet current and future needs.”

Ginnie Mae’s new Cybersecurity Incident APM is part of its holistic approach to augmenting its cybersecurity protocols, with the intent of further refining its organization-wide information security, business continuity and reporting requirements.

For more information and resources regarding the new Cybersecurity Incident notification requirements, please refer to APM 24-02​.

If you have any questions about the policy announced in this APM, please contact your Account Executive directly.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly known as Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

Ginnie Mae is a wholly owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae MBS programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing and the Department of Agriculture Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.

2/29/2024

WASHINGTON, D.C. – Today, in the All Participants Memorandum (APM) 24-01, Ginnie Mae announced modernizations to its Manufactured Housing Mortgage-Backed Securities (MH MBS) program in an effort to expand program participation and support additional liquidity for borrowers for manufacture housing. These enhancements are part of a comprehensive program review that considers the evolving risk environment since the last major program update in 2010. The changes were announced today in a White House factsheet delineating Biden-Harris administration actions to boost housing supply and lower housing costs, which build on the U.S. Department of Housing and Urban Development’s Strategic Plan to enhance the role of manufactured housing in the United States.

Drawing from the results of the review and in partnership with the Federal Housing Administration’s (FHA) proposed Title 1 policy changes, Ginnie Mae is revising its issuer financial eligibility requirements in the Mortgage-Backed Securities Guide 5500.3 Rev-1 (MBS Guide) for both institutions seeking approval as Ginnie Mae Manufactured Housing Issuers (MH Applicants) and existing, approved Ginnie Mae MH issuers. These include revisions to the net worth and liquidity requirements that will go into effect on March 1, 2024, for MH applicants and on June 1, 2024, for existing MH issuers.

“Ginnie Mae plays a crucial role in supporting the financing of affordable housing supply, and manufactured housing is an important part of the solution,” said Ginnie Mae President Alanna McCargo in a statement​ released earlier today by the U.S. Department of Housing and Urban Development. “We’ve consulted the industry and worked closely with FHA to update and align our Title 1 eligibility requirements to support more financing in tandem with the vast improvements FHA is making to its program. Today’s announcement marks significant progress in expanding access to the secondary market for more Title I issuers and deploying more capital for manufactured housing lending going forward.”

Ginnie Mae monitors performance and assesses risk on an ongoing basis and reserves the right to revise the financial requirements at its sole discretion at any time.

For more information and resources regarding the new MH MBS requirements, please refer to APM-24-01.

If you have any questions about the policy announced in this APM, please contact your Account Executive directly.

Additional information about Ginnie Mae is available at www.ginniemae.gov​ and on X (formerly known as Twitter), YouTube, Facebook​, and LinkedIn.

About Ginnie Mae

Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae Mortgage-Backed Security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

2/7/2024

Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.53 trillion in January, including $28.1 billion of total MBS issuance, leading to $10.8 billion of net growth.

January’s new MBS issuance supports financing for more than 91,000 households, including more than 46,000 first-time homebuyers. Approximately 77.6 percent of the January MBS issuance reflects new mortgages that support home purchases, because refinance activity remained low due to higher interest rates.

The January issuance includes $27.4 billion of Ginnie Mae II MBS and more than $674 million of Ginnie Mae I MBS, including nearly $558 million in loans for multifamily housing.

For the 2024 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 46,000 first-time homebuyer loans.

For more information on monthly MBS issuance, unpaid principal balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure. ​

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X​ (formerly known as Twitter), YouTube​, Facebook, and LinkedIn​.

About Ginnie Mae

Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing a​​nd Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

1/16/2024

WASHINGTON, D.C.—Today, Ginnie Mae announced that it is exploring development of a new securitization product as part of its efforts to enhance and expand its existing Home Equity Conversion Mortgage (HECM) mortgage-backed securities (HMBS) program.

In light of continued liquidity constraints in the reverse mortgage sector, Ginnie Mae is exploring the viability of a new securitization product that would accept HECM loans with balances above 98 percent of FHA’s Maximum Claim Amount (MCA). This new product will not change the requirements for the existing HMBS program, where HECM loans with balances at or above 98 percent MCA are required to be bought out of HMBS.

“Ginnie Mae remains committed to the HMBS program, which supports an important tool that enables seniors to tap into their home equity,” said Ginnie Mae President Alanna McCargo. “This potential product exploration reflects our focus on current liquidity issues affecting the secondary mortgage market. Given the growing population of older Americans that may need to rely on home equity for financial support, continued efforts to provide stability in the secondary market are crucial to the ongoing health and access to the FHA HECM product.”

Additional information about Ginnie Mae is available at www.ginniemae.gov​​ and on X (formerly known as Twitter), YouTube, Facebook​, and LinkedIn.

About Ginnie Mae

Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

1/11/2024

Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.52 trillion in December, including $28.7 billion of total MBS issuance, leading to $13 billion of net growth. December’s new MBS issuance supports the financing of nearly 95,000 households, including more than 47,000 first-time homebuyers. Approximately 76.3 percent of the December MBS issuance reflects new mortgages that support home purchases because refinance activity remained low due to higher interest rates.

The December issuance includes $27.6 billion of Ginnie Mae II MBS and nearly $1.02 billion of Ginnie Mae I MBS, including approximately $902 million in loans for multifamily housing.

For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 620,000 first-time homebuyer loans.

For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formally known as Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

12/8/2023
​Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.51 trillion in November, including $31.7 billion of total MBS issuance, leading to $18 billion of net growth. November’s new MBS issuance supports the financing of nearly 105,000 households, including 53,000 first-time homebuyers. Approximately 76.5 percent of the November MBS issuance reflects new mortgages that support home purchases because refinance activity remained low due to higher interest rates.

The November issuance includes $30.9 billion of Ginnie Mae II MBS and more than $810 million of Ginnie Mae I MBS, including approximately $660 million in loans for multifamily housing.

For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 570,000 first-time homebuyer loans.

For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure​.

Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formally known as Twitter), YouTube, Facebook, and LinkedIn.

About Ginnie Mae

Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

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