Washington, DC – Ginnie Mae today published the first set of data related to its expanded Pass-Through Assistance Program (PTAP/C19), developed in response to the COVID-19 National Emergency.
PTAP/C19 allows Issuers to apply for assistance in meeting their contractual obligation to make timely and in full principal and interest payments due Mortgage-Backed Security (MBS) holders without being held in default under the Ginnie Mae Guaranty Agreement.
The first set of PTAP/C19 program data is listed below and is available on the Ginnie Mae website. Information on the PTAP/C19 will be updated periodically each month. Ginnie Mae encourages analysts and others interested in the information to subscribe to the page in order to receive the latest information.
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 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.
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.