WASHINGTON, D.C. – Today, the Secretary of the U.S. Department of Housing and Urban Development (HUD), the Honorable Marcia L. Fudge, issued a statement recognizing Ginnie Mae’s 55th anniversary and the important contributions the organization has made to expand access to affordable housing and mortgage lending for historically underserved communities.
The Secretary’s statement read, in part:
Since its founding, Ginnie Mae has helped make the American Dream of equitable, affordable homeownership and rental opportunities a reality for millions of Americans. It has served as the principal financing arm for government-mortgage loan programs that serve low- and moderate-income households, first-time homebuyers, veterans, rural communities, and Tribes…
Today, we recognize the tremendous contributions of Ginnie Mae and commit to continuing to work together to build a more equitable housing finance system that makes access to safe, secure, and fair housing possible for all.
This year marks the 55th anniversary of the passage of the Housing and Urban Development Act of 1968, which President Lyndon B. Johnson signed into law in 1968 and marked the creation of the Government National Mortgage Association, or Ginnie Mae, as a government corporation within HUD. The law went into effect shortly after the enactment of the Civil Rights Act of 1968, which included the Fair Housing Act, enshrining the right of all Americans to access fair, affordable housing and mortgage lending free from discrimination.
“I am grateful for Secretary Fudge’s recognition and strong support of Ginnie Mae’s critical work,” said Ginnie Mae President Alanna McCargo. “Housing is a powerful tool for building economic security, opportunity, and intergenerational wealth. From day one, Ginnie Mae’s mission has always been to serve those facing barriers to attaining the American Dream of homeownership. During Ginnie Mae’s 55-year history, we have helped millions of low-to-moderate income Americans, first-time homebuyers, veterans, and households in rural and tribal communities attain affordable housing and rental opportunities. We remain deeply committed to building on that foundation today.”
To read the full statement, please visit:
https://www.hud.gov/press/press_releases_media_advisories/HUD_No_23_164.Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and on
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.