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Press Release​s​

FHFA and Ginnie Mae Announce Updated Minimum Financial Eligibility Requirements for Enterprise Seller/Servicers and Ginnie Mae Issuers
Published Date: 8/17/2022 12:00 PM

WASHINGTON, D.C. – Today, the Federal Housing Finance Agency (FHFA) and Government National Mortgage Association (Ginnie Mae) issued a joint announcement of their updated minimum financial eligibility requirements for seller/servicers and issuers. Prompted by the changing nature of the U.S. housing finance system, these enhanced eligibility requirements reflect Ginnie Mae’s and FHFA’s shared goals to promote confidence in approved issuers and seller/servicers and improve the safety and soundness of the U.S. mortgage-backed securities (MBS) ecosystem through all economic cycles.

U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge applauded Ginnie Mae and FHFA leadership for their diligence in providing continuity for the mortgage industry while strengthening the MBS system that supports affordable housing for all Americans. “The robust collaboration of Ginnie Mae President Alanna McCargo and FHFA Director Sandra Thompson is a testament to their leadership and shared commitment to sustainable access to credit for American families,” said Secretary Fudge. “The action announced today will ensure that we continue to address the needs of underserved communities through easy, equitable and sustained access to mortgage credit.”

“The updated eligibility requirements represent an ongoing commitment to the safety and soundness of Fannie Mae and Freddie Mac by strengthening the capacity of seller/servicers to meet the financial responsibilities associated with doing business with the Enterprises,” said FHFA Director Sandra L. Thompson. “FHFA and Ginnie Mae’s effort to coordinate on financial eligibility requirements provides greater consistency for Enterprise seller/servicers and Ginnie Mae issuers.”

“Ensuring that Ginnie Mae issuers can acquire financing during times of stress is critical to preserving access to credit for those borrowers who depend on Ginnie Mae and our insuring agency partners,” said Ginnie Mae President Alanna McCargo. “These enhanced requirements, the product of our historic collaboration with FHFA, will promote the resilience of our issuers and better enable them to operate throughout economic cycles.”

Since 2020, FHFA and Ginnie Mae have coordinated their analyses, engaged in stakeholder outreach, and held an April 2022 joint listening session to consider feedback on the impact the revised requirements will have on the mortgage industry. To reduce regulatory burden and provide greater consistency and predictability for seller/servicers and issuers, FHFA and Ginnie Mae worked closely to align their respective standards and implementation timelines to the greatest extent possible. The majority of the requirements are effective on September 30, 2023.​

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About FHFA

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.5 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at, on Twitter @FHFA, 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. Additional information is available at, on Twiter @ginniemaegov, YouTube, Facebook and LinkedIn​.