The Office of Issuer & Portfolio Management (OI&PM) is led by Senior Vice President Michael R. Drayne.
The office partners with Issuers including banks, credit unions, housing finance agencies and mortgage banks regarding all matters concerning their participation in Ginnie Mae’s mortgage-backed securities (MBS) programs. The office establishes policies governing eligibility for Issuers of Ginnie Mae securities. The functions of the office are carried out across three divisions: Single-family, Multifamily, and Monitoring & Asset Management.
The Single-family Division is responsible for the single-family programs for standard and Home Equity Conversion Mortgage program (HECM) mortgages, as well as the Manufactured Housing MBS program. This division represents Ginnie Mae in the residential mortgage lending community – marketing the Ginnie Mae programs, identifying and recruiting new Issuers and ensuring a working relationship with program participants. The division also has several other responsibilities including the development of new Single-family MBS programs, coordinating with the Securities Operations offices in the issuance and monthly reporting processes, sharing announcements with Issuers about new processes, and identifying and providing instructions to new Issuers, among other roles.
The Multifamily Division deals with Issuers in all matters concerning their participation in Ginnie Mae’s multifamily program. The division has responsibility for marketing the Ginnie Mae Multifamily program, ensuring a working relationship with program participants, and establishing policies governing eligibility and performance in the Multifamily MBS program.
The Monitoring & Asset Management Division manages and undertakes risk monitoring activities to assure program compliance. The division also participates in the development and review of policies and procedures for the Single-family and Multifamily programs. It also provides surveillance of delinquency, financial and insurance-matching metrics. Additionally, the division manages Issuer defaults as well as oversight of all activities related to marketing and managing assets acquired by Ginnie Mae in the event of an Issuer default.