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Ginnie Mae Solicits Feedback on its Digital Collateral Guidelines
Contact: Douglas Robinson
Douglas.R.Robinson@hud.gov
202-475-7818
Published Date: 10/25/2019 2:35 PM

WASHINGTON, D.C. – Today, Ginnie Mae published a Request for Input (RFI) on the requirements that address the acceptability of digital promissory notes and other electronic documents for Ginnie Mae pools and loan packages, as well as participation in its Digital Collateral Pilot (Pilot).

"This announcement underscores Ginnie Mae’s commitment to modernizing its mortgage-backed securities (MBS) program and platform in order to create a digital mortgage ecosystem, from loan application through securitization, that increases access to credit for many Americans,” said Angel Hernandez, Director MBS Policy and Program Development. “It will also enhance the integrity of Ginnie Mae collateral by reducing the risk from defects in loan instruments. For these reasons, Ginnie Mae is investing in the development and implementation of the policies, technology and operational capabilities necessary to take in digital promissory notes and other digitized loan files as acceptable collateral for our securities.”

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 mortgage-backed securities (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the Department of Veterans Affairs, the 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.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities on which registered holders receive separate principal and interest payments on each of their certificates. Ginnie Mae I securities can include single family, multifamily, manufactured home and project construction loans.

Ginnie Mae II MBS are modified pass-through mortgage-backed securities for which registered holders receive an aggregate principal and interest payment from a central paying agent. An Issuer may participate in the Ginnie Mae II MBS either by issuing custom, single-Issuer pools or through participation in the issuance of multiple-Issuer pools, which combine loans with similar characteristics. 

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