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4/9/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $55.21 billion in March, providing financing for more than 211,000 homeowners and renters.

A breakdown of March issuance includes $52.51 billion of Ginnie Mae II MBS and $2.69 billion of Ginnie Mae I MBS, which includes $2.23 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.142 trillion is an increase from $2.058 trillion in March 2019.

“The Ginnie Mae MBS program is working for America’s families, facilitating an average of $55 billion in mortgage capital in each of the past eight months,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “That consistency is an illustration of the reliability of our technology infrastructure, especially now as our staff and that of many of our business partners rely on remote connectivity to keep money flowing to our nation’s mortgage borrowers.”

For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure.

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.

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.

4/7/2020

Washington, DC – April 7, 2020 - Ginnie Mae today announced that it had approved the inclusion of a servicing advance financing facility under its Acknowledgment Agreement program. Under its Acknowledgment Agreements, Ginnie Mae has permitted a Note Securitization (NS) structure, which was developed in 2016 and allows for the securitization of servicing cash flows through a trust. This structure has been strongly supported by institutional investors that previously lacked a vehicle for investing in mortgage servicing rights (MSRs). Five of Ginnie Mae’s top 11 Issuers (by February issuance volume) utilize the NS structure.

As a result of the current transaction, PennyMac Financial Services, Inc. will be able to access financing for servicing advances through the NS trust. This transaction represents the first time that the NS Structure, which was originally designed to provide financing based on the value of the MSRs as a whole, has been expanded to separately finance the advanced payments that a servicer makes in connection with individual loans in its MBS pools. Separate financing for servicing advances under government insured-mortgage lending has been much more difficult for the private market to supply than for conventional loans.

“Owning and servicing MSRs is a capital-intensive proposition, and the more avenues that exist for private capital to flow into the system on attractive terms, the easier it becomes to fulfill our mission of bringing global capital into the US housing market, while minimizing risk to the taxpayer,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “We are pleased to have been able to finalize this transaction, because it represents another step forward in the improvement of the liquidity supply for the housing finance system.”

Outstanding financing under the NS Structure exceeded $3 billion as of year-end 2019.

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.

3/20/2020

Washington, D.C. -- In the wake of the COVID-19 outbreak, Ginnie Mae is positioned to continue providing services across its range of stakeholders. We are in close communication with issuers, servicers, vendors, and trustees. Program functions are expected to be completed in a timely manner. In addition, Ginnie Mae is working in tandem with its insuring agency partners, including the Federal Housing Administration (FHA), the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture (USDA) to ensure a continued flow of homeownership capital. We are addressing the economic impacts resulting from the outbreak and will take further action as necessary. In the meantime, if you have additional questions, visit Ginniemae.gov or contact Ginnie Mae Relationship Services at (800) 234-4662, Option 5.

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.

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.

3/20/2020

WASHINGTON, DC – Ginnie Mae announced today that it posted new updates for tranches indexed to the London Interbank Offered Rate (LIBOR) in the agency’s multiclass securities issued after March 1, 2020 in its Ginnie Mae Multiclass Securities Guide. This guidance follows Ginnie Mae’s adoption of the recommendations of the Alternative Rates Reference Committee (ARRC) relating to fallback language for new issuances of LIBOR floating rate securities.

Specifically, for LIBOR classes issued after March 1, 2020, Ginnie Mae will determine:

o if and when a transition event occurs concerning LIBOR;

o the date on which LIBOR will be replaced for LIBOR Classes; and

o the applicable benchmark replacement for LIBOR and spread adjustment.

In addition, the Guide update adds the Secured Overnight Funding Rate (SOFR) as an available index for new issuance of floating rate Multiclass Securities and adoption of the ARRC recommended SOFR fallback provision. Finally, the Guide update also announces the elimination of the Cost of Funds Index (COFI) as an eligible index for new issuances.

“The Ginnie Mae program will be prepared in the event that LIBOR is no longer published after 2021. Today’s announcement is the first of many by Ginnie Mae that will guide program participants through a potential LIBOR transition for both legacy and prospective MBS and Multiclass Securities,” said Ginnie Mae Executive Vice President and Chief Operating Officer Eric Blankenstein. “Ginnie Mae is committed to working with our program participants and other federal entities to fulfill our mission and ensure that capital continues to flow efficiently through our program to support the American housing system.”

For more information, market participants are encouraged to call Ginnie Mae’s Office of Capital Markets at (202) 475-7820 with any questions or comments regarding this announcement.

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.

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.

Multiclass Securities are structured mortgage-backed securities in which the cash flows from the underlying collateral consisting of Ginnie Mae I and II MBS are allocated to different bond classes having different maturities, coupons, and payment priorities.

3/16/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $52.64 billion in February, providing financing for more than 210,000 homeowners and renters.

A breakdown of February issuance includes $50.21 billion of Ginnie Mae II MBS and $2.43 billion of Ginnie Mae I MBS, which includes $1.46 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.137 trillion is an increase from $2.056 trillion in February 2019.

For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure.

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.

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.

2/18/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $57.85 billion in January, providing financing for more than 223,938 homeowners and renters.

A breakdown of January issuance includes $55.46 billion of Ginnie Mae II MBS and $2.40 billion of Ginnie Mae I MBS, which includes $1.96 billion of loans for multifamily housing.
 
Ginnie Mae's total outstanding principal balance of $2.130 trillion is an increase from $2.053 trillion in January 2019.
 
For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure.
 
 
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.
 
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.
1/28/2020

Washington, D.C. – Ginnie Mae executives are scheduled to deliver presentations next week at the Mortgage Banker’s Association’s (MBA) Independent Mortgage Bankers conference updating the mortgage industry on the agency’s potential role in housing finance reform and its approach to counterparty risk management. The Ginnie Mae executives are participating in the Independent Mortgage Bankers conference in New Orleans, February 3-6.

Michael Drayne, Acting Executive Vice President and Senior Vice President for Strategic Policy, Planning and Communications will join other leaders from the Department of Housing and Urban Development for a general session panel discussion, “Housing Finance Reform: What it Means for Independent Mortgage Bankers.”

Senior Vice President and Chief Risk Officer Gregory Keith will participate in an in-depth discussion of counterparty risk as part of the conference’s “Counterparty Risk: Managing Perception and Reality” session. For background on Ginnie Mae’s approach to counterparty risk management, please see the Ginnie Mae 2020 Progress Update white paper, and these blogposts, “Understanding Key Points about Counterparty Policy,” and “Taking a Custom Approach to Counterparty Risk.”

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’s 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.

1/16/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $54.74 billion in December, providing financing for more than 214,999 homeowners and renters.

A breakdown of December issuance includes $52.18 billion of Ginnie Mae II MBS and $2.56 billion of Ginnie Mae I MBS, which includes $2.18 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.118 trillion is an increase from $2.042 trillion in December 2018.

For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure.

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.

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.

1/8/2020

WASHINGTON, D.C. – Ginnie Mae today announced that it will hold a webinar January 14, 2020 at 2 P.M. Eastern time to launch the onboarding of users to the agency’s online portal, My.GinnieMae.gov, a one-stop shop for the Ginnie Mae business community.

The webinar will detail the onboarding schedule for the different user and customer categories. In addition, the webinar will provide:

  • System and workflow requirements 
  • Additional tips and resources 
  • Key dates and activities, and 
  • Q&A opportunities

For more information, go here

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 HUD 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.

12/12/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $56.09 billion in November, providing financing for more than 216,352 homeowners and renters.

A breakdown of November issuance includes $53.624 billion of Ginnie Mae II MBS and $2.466 billion of Ginnie Mae I MBS, which includes $1.883 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.111 trillion is an increase from $2.033 trillion in November 2018.

For more information on monthly MBS issuance, UPB balance, REMIC monthly issuance and global market analysis, visit Ginnie Mae Disclosure.

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 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.

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Last Modified: 7/12/2019 9:51 PM