WASHINGTON, D.C.—Today, the Government National Mortgage Association (Ginnie Mae) made public its first comprehensive report on the secondary mortgage market liquidity of mortgages that are U.S. Department of Veterans Affairs (VA) guaranteed and pooled by issuers into Ginnie Mae mortgage-backed securities (MBS).The report is in accordance with an Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 requirement and was delivered to Congress last month.
“Ginnie Mae and the U.S. Department of Veterans Affairs have built a robust, resilient, and effective program to support homeownership for veterans and active duty servicemembers. The VA liquidity report provides an in-depth look at the health and liquidity of the program over time, which is crucial to ensuring the mortgage benefit that our military has earned is available through all economic cycles,” said Ginnie Mae President Alanna McCargo.
“VA appreciates Ginnie Mae’s (GNMA) efforts to review the liquidity of the VA Home Loan program. VA will continue to work with GNMA to ensure VA home loans remain the product of choice for veterans in meeting their homebuying and refinancing needs,” said John Bell, Executive Director, Loan Guaranty Service, U.S. Department of Veterans Affairs.
The Ginnie Mae MBS program is designed to provide liquidity and stability to support homeownership for veterans and active-duty personnel, particularly first-time homeowners. In Fiscal Year 2022, Ginnie Mae VA-backed MBS-guaranteed mortgages helped more than 204,000 veteran and active-duty households become first-time homebuyers. Today, driven by the program’s success over the years, more than 727,000 first-time homeowners are in the Ginnie Mae portfolio, and the overall VA share of MBS issuance has experienced significant growth.
Additional information about Ginnie Mae is available at www.ginniemae.gov, on 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.