| 9/22/2023 | | WASHINGTON, D.C. – Today, Ginnie Mae is announcing revisions to its Home Equity Conversion Mortgage (HECM) Mortgage-Backed Securities (HMBS) requirements to allow securitization of multiple participations related to a particular HECM in any one issuance month. The intention of this enhancement is to reduce liquidity pressures on HMBS Issuers and ensure the HECM program remains viable and able to serve America’s seniors.
Ginnie Mae’s HMBS program offers access to the secondary market for HECM loans. The program provides Issuers the ability to securitize portions of the HECM over time as Issuers fund borrower line of credit draws and program fees. These payments are referred to as “participations” or “tails.” These changes will be available on October 1 and will allow Issuers to securitize multiple participations as soon as they are ready.
“Ginnie Mae’s HMBS program changes will enable Issuers continuous access to capital market sources of funding to securitize HMBS participations throughout the month.” said Ginnie Mae President Alanna McCargo. “Our goal is to improve Issuer liquidity and strengthen this important program for America’s seniors.”
For more information about the new requirements, including multiple participation requirements and special requirements for participation drawn other than on the first of the month, see APM—23-11.
Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and 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.
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| 9/21/2023 | | Washington, D.C., September 21, 2023—Ginnie Mae President Alanna McCargo delivered the keynote speech at the Barclays U.S. Rates and Residential Mortgage-Backed Securities (RMBS) Conference in Tokyo, Japan, where she addressed the value proposition of Ginnie Mae mortgage-backed securities (MBS), its social impact and sustainability work, and the U.S. housing market. Presenting to an audience of global asset managers and investors, President McCargo discussed the current macro-economic trends in the mortgage market and strong performance of Ginnie Mae securities. President McCargo also introduced to investors Ginnie Mae’s recently launched Social Bond update to its Single-Family Forward MBS program and its Social Impact and Sustainability Framework. These enhancements highlight the structural aspects of Ginnie Mae’s mission and program which drive broader access to mortgage financing and affordable homeownership and rental opportunities for historically underserved communities. President McCargo also discussed Ginnie Mae’s social and green bond disclosures which provide reliable data for investors looking for impact investing opportunities. “As I travel around the world, one thing is clear: global investors want more impact investment opportunities. Since its founding 55 years ago, Ginnie Mae has been a social impact company. Along with our MBS pool-level disclosure data, our new Social Bond update and impact framework represent powerful tools for investors who want to direct capital in support of broader access to affordable credit and housing for American households in underserved communities,” said President Alanna McCargo. “Ginnie Mae’s unique value proposition remains a significant draw for investors, and paired with the power of our explicit guaranty, our impact work can drive additional global investment into the communities and households we serve.” In addition to keynoting the investor conference in Tokyo, President McCargo and other senior Ginnie Mae officials will also engage in meetings with investors and other public and private sector housing market participants in Japan and Singapore. Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and 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.
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| 9/14/2023 | | Updates to Mortgage-Backed Securities Prospectuses and Social Impact and Sustainability Framework Support Ginnie Mae’s Mission
Washington, D.C. – Today, Ginnie Mae announced the launch of its “Social Bond” label for Single-Family Forward Mortgage-Backed Securities (MBS) prospectuses and released the Social Impact and Sustainability Framework. Together, these updates support Ginnie Mae's mission-oriented work and communicate the positive social impact of its programs to investors. Today’s launch will help increase investor awareness of the value proposition in Ginnie Mae securities, increasing opportunities to attract new sources of capital in support of lenders and borrowers Ginnie Mae ultimately serves.
The prospectus revisions highlight structural aspects of Ginnie Mae’s programs that have a significant social impact by promoting broader access to mortgage financing for historically underserved communities. With the revision to the prospectus, investors will have the choice, along with MBS pool level disclosure data, to independently determine Ginnie Mae MBS as “Social Bonds,” meaning the underlying collateral is designed to support a positive social and affordable housing outcome. The new Social Impact and Sustainability Framework outlines the characteristics of Ginnie Mae’s Social Bonds and broader portfolio.
“Ginnie Mae has been driving social impact through the capital markets for the past 55 years,” said President Alanna McCargo. “Adding a social label alongside the impact framework and data disclosures for our program makes clear the social benefit that is inherent in our mortgage-backed securities and allows investors the choice to identify what they deem to be a meaningful social impact investment. This is an important step forward for our securitization program and a powerful tool for investors who want to put capital to work that impacts America’s communities and households.”
Effective October 1, 2023, Ginnie Mae will revise its prospectuses for Single-Family Forward MBS contained in the Ginnie Mae MBS Guide, HUD Handbook 5500.3, REV-1 Appendices to include a Social Bond Label section. Learn more by reading the APM 23-10 here and the Social Impact and Sustainability Framework here.
Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and 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.
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| 9/8/2023 | | Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.458 trillion in August, including $38.1 billion of total MBS issuance, leading to $18 billion of net growth. Issuance for this month was approximately the same as July’s $38.0 billion but lower than June’s $39.5 billion. August’s new MBS issuance supports the financing of more than 123,000 households, including 59,000 first-time homebuyers. Approximately 76 percent of the August MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher interest rates. For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of over 410,000 first-time homebuyer loans. The August issuance includes $36.9 billion of Ginnie Mae II MBS and $1.2 billion of Ginnie Mae I MBS, including approximately $1.01 billion in loans for multifamily housing. For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.
Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and 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.
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| 8/8/2023 | | 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
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.
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| 8/7/2023 | | Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.440 trillion in July, including $37.5 billion of total MBS issuance, leading to $18 billion of net growth. Issuance for this month was lower than June’s $39 billion but higher than May’s $34 billion and April’s $33 billion.
July’s new MBS issuance supports financing for more than 120,000 households, including more than 57,000 first-time homebuyers. Approximately 78 percent of the July MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher interest rates.
For the 2023 calendar year to date, Ginnie Mae has supported the pooling and securitization of nearly 351,000 first-time homebuyer loans.
The July issuance includes $36.6 billion of Ginnie Mae II MBS and $900 million of Ginnie Mae I MBS, including approximately $740 million in loans for multifamily housing.
For more information on monthly MBS issuance, Unpaid Principal Balance, real estate mortgage investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.
Additional information about Ginnie Mae is available at
https://www.ginniemae.gov and on
Twitter,
YouTube,
Facebook and
LinkedIn.
About Ginnie MaeGinnie 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.
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| 7/28/2023 | | Washington, D.C. – Ginnie Mae announced today the addition of a new Environmental, Social, and Governance (ESG) webpage to the Ginnie Mae website, which provides details on the organization’s ESG strategy with a focus on the environmental and social impacts our MBS program offers to investors.
Ginnie Mae has also published its first monthly ESG composite for June 2023. This visual depiction of mortgage-backed securities (MBS) data allows Ginnie Mae to highlight the program’s positive impact and key ESG metrics for investors at a glance.
Ginnie Mae’s MBS program was established 55 years ago with a clear mission to support homeownership and affordable rental opportunities for all Americans, with a special focus on low- and moderate-income and historically underserved communities. The mortgage collateral underlying Ginnie Mae’s MBS program demonstrates the incredible reach and impact the agency has had on households across the United States. In light of the growing market and investor interest in sustainability and social impact investing opportunities, Ginnie Mae has focused on adding transparency and deeper data for investors and the public through its disclosure program.
“An investment in Ginnie Mae Mortgage-Backed Securities is an investment in the housing needs of the communities we and our government insuring agency partners serve,” said Ginnie Mae President Alanna McCargo. “Our new ESG composite outlines a clear composition of the borrowers and renters our program reaches, making the collective impact of government mortgage financing programs very clear at a glance.”
To learn more about our ESG webpage and initiatives, please visit https://www.ginniemae.gov/about_us/what_we_do/Pages/ESG.aspx
To read the ESG composite, please visit https://www.ginniemae.gov/about_us/what_we_do/Pages/ESGMetrics.aspx
Additional information about Ginnie Mae is available at www.ginniemae.gov and 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’s 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.
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| 7/28/2023 | | WASHINGTON, D.C. –The Secretary of the Department of Housing and Urban Development, the Honorable Marcia L. Fudge, and the President of Ginnie Mae, the Honorable Alanna McCargo, will ring the New York Stock Exchange closing bell at 4:00 p.m. EDT today, Friday, July 28th, in recognition of the 55th anniversary of the signing of the Housing and Urban Development Act of 1968 by President Lyndon B. Johnson, which created the Government National Mortgage Association (Ginnie Mae).
Ginnie Mae was explicitly created following the passage of the Civil Rights Act, with the mission to serve those who had historically been unable to access mortgages and housing fairly and to assist in providing affordable rental and homeownership opportunities for low- and moderate-income households. Congress established Ginnie Mae to create a liquid secondary market for residential mortgages, making affordable, equitable homeownership and rental housing a reality for millions of Americans.
Today’s bell ringing will kick off a month of special events and activities highlighting Ginnie Mae’s history, work to help historically underserved communities access affordable housing and mortgage lending, and priorities for the future.
Watch the event via livestream at https://www.nyse.com/bell.
Additional information about Ginnie Mae is available at www.ginniemae.gov and 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.
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| 7/10/2023 | |
Washington, D.C. - Ginnie Mae's mortgage-backed securities (MBS) portfolio outstanding grew to $2.422 trillion in June, including $39 billion of total MBS issuance, leading to $18 billion of net growth. Issuance for this month was significantly higher than May's $34 billion as well as April's $33 billion.
June's new MBS issuance supports the financing of more than 130,000 households, including more than 62,000 first-time homebuyers. Approximately 75 percent of the June MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher interest rates. For the 2023 calendar year to date, Ginnie Mae supported the pooling and securitization of more than 294,000 first-time homebuyer loans. The June issuance includes $37.9 billion of Ginnie Mae II MBS and $1.3 billion of Ginnie Mae I MBS, including approximately $1.2 billion in loans for multifamily housing. For more information on monthly MBS issuance, UPB, REMIC monthly issuance, and global market analysis, visit Ginnie Mae Disclosure. Additional information about Ginnie Mae is available at https://www.ginniemae.gov and 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. |
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| 7/6/2023 | | Washington, D.C. - Ginnie Mae announced today the expansion of its low-to-moderate income (LMI) disclosure initiative to include loan-level pool data for U.S. Department of Agriculture, Rural Housing Service (USDA-RHS) loans. This pool level borrower income data will be used in Ginnie Mae's Mortgage-Backed Security Level "LMI Income" disclosure. Ginnie Mae has been working to enhance our LMI disclosures, beginning with LMI geographic information two years ago and the addition of LMI income earlier this year. These disclosures are an integral part of Ginnie Mae's inherent social and environmental mission, and align with increased environmental, social and governance (ESG) considerations from our mortgage-backed securities (MBS) investors. USDA-RHS is one of Ginnie Mae's key government loan partners and offers a variety of programs to build and improve housing and essential community facilities in rural areas. The commitment and resources USDA-RHS bring to rural communities helps drive economic security and prosperity, with our MBS program creating the liquidity to finance their lending. USDA-RHS loans are integral to the economy and quality of life in rural communities, often the most affordable and efficient available mortgage. "We are excited to expand our work with USDA RHS and further support the critical role which they play in rural areas across the country," said Sam Valverde, Ginnie Mae's Principal Executive Vice-President. "These additional disclosures highlight a uniquely impactful portion of our business and enable investors to measure and potentially expand their impact across these communities." As of April 2023, the nearly 800,000 USDA-RHS loans in our portfolio represented over 7% of Ginnie Mae's single-family MBS. The new disclosure data will be published on the sixth business day of every month, for the prior month's issuances, and made available in the Disclosure Data Download section of the Ginnie Mae website. To learn more about the Rural Housing Service, please visit: https://www.rd.usda.gov/about-rd/agencies/rural-housing-service Additional information about Ginnie Mae is available at www.ginniemae.gov and 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.
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