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Press Releases

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7/29/2021

Washington, D.C. – Ginnie Mae released its latest Capital Markets Live podcast, which examines current and anticipated conditions in the U.S. mortgage-backed securities (MBS) market.

Ginnie Mae Acting Executive Vice President Michael Drayne is joined on the podcast by Satish Mansukhani, Head of Agency MBS Research at Bank of America for a wide-ranging discussion of the MBS market.

The Ginnie Mae Capital Markets Live podcast can be heard 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 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.

7/19/2021

WASHINGTON, D.C. -- Ginnie Mae today announced that it is enhancing data disclosure for its Platinum securities to provide investors with information that supports their sustainable investing decisions and solutions. The new environmental, social and governance (ESG) data provide investors with Platinum pool level aggregate information about the extent of UPB dollars that are in low- and moderate-Income areas.

Ginnie Mae Platinum securities are formed when investors combine multiple smaller dollar value, less-liquid MBS into a larger, single new Platinum security, which increases asset liquidity and operational efficiency while reducing administrative cost.

More details on this ESG enhancement can be found in the Bulletin update on this page​.

The low- and moderate-income areas used in formulating this new disclosure are defined by the Department of Housing and Urban Development (HUD). The new disclosure aggregates to the pool level the number of loans, percent of loans, UPB dollars, and percent UPB dollars across low- and moderate-income areas applicable to the pool.

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.

7/12/2021

WASHINGTON, D.C. – Today, Ginnie Mae published a Request for Input (RFI) on updates to eligibility requirements for single-family mortgage-backed securities (MBS) Issuers.

"This announcement underscores Ginnie Mae’s commitment to continuously assess its MBS Guide requirements with a goal of continuing to ensure Issuer success in our program while minimizing risk to the government’s unconditional guarantee,” said Senior Vice President and Chief Risk Officer Gregory Keith.

Responses to the RFI ​are due August 9, 2021.

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.

7/9/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was $72.45 billion in June, the twelfth consecutive month volume has exceeded $70 billion. Ginnie Mae MBS issuance reflects the liquidity of the program and its value in meeting the mortgage needs of homebuyers and rental property owners. Approximately 272,280 homes and apartment units were financed by Ginnie Mae guaranteed MBS in June.

“Robust issuance and consistent investor demand demonstrate the utility of the Ginnie Mae MBS program and its role in supporting affordable homeownership and rental housing,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our commitment to maintaining a strong and innovative MBS program that produces the types of securities investors demand and that Issuers can use to finance home loans in their communities is the foundation of Ginnie Mae’s mission.”

A breakdown of June issuance of $72.45 billion includes $68.98 billion of Ginnie Mae II MBS and $3.47 billion of Ginnie Mae I MBS, which in turn includes $3.37 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of June 30 was $2.117 trillion, up from $2.114 trillion in May, and down slightly from $2.125 trillion in June 2020.

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.

​​
6/25/2021

WASHINGTON, DC -- Ginnie Mae is announcing creation of a new pool type to support the securitization of modified loans with terms up to 40 years. The currently active set of pool types is limited to 30-year loan terms. The introduction of the new product (which will be known as Pool Type C-ET) will allow Ginnie Mae issuers to offer loan modifications that carry a lower monthly payment than would a 30-year term while retaining the ability to securitize the loans for sale into the secondary market.

“It’s important that Ginnie Mae issuers have secondary market liquidity for options that our agency partners determine are appropriate for supporting homeowners in distress,” said Michael Drayne, Ginnie Mae’s Acting Executive Vice President. “Because an extended term up to 40 years can be a powerful tool in reducing monthly payment obligations with the goal of home retention, we have begun work to make this security product available.“ Drayne noted that the terms and extent of use of the new pool type would ultimately be determined by the Federal Housing Administration (FHA) and Office of Public and Indian Housing (PIH) within the Department of Housing and Urban Development (HUD), Department of Veterans Affairs (VA), and U.S. Department of Agriculture (USDA) Rural Development, whose programs are the basis for the loans in Ginnie Mae pools.

Highlights of the new pool type are as follows:

• Pool of type C-ET would be a “Custom” pool, having a single loan and $25,000 minimum pool size;

• Eligible collateral will consist of participating agency modified loans whose original terms are greater than 361 months and less than or equal to 480 months, and all modifications of an included mortgage loan after its origination must have been occasioned by default or reasonably foreseeable default;

• There will not be any restrictions on loan amount, so long as the eligible collateral otherwise meets the requirements as set forth in guidance published by the participating agency.

“Ginnie Mae has been integral to the interagency actions to prevent foreclosure for homeowners experiencing financial hardship as a result of COVID-19,” said Alanna McCargo, HUD Senior Advisor to Secretary Marcia Fudge. “The challenges of the last year require meaningful solutions to help keep people in their homes, which has been a priority for Secretary Fudge. As interest rates rise, this 40-year feature will enable more payment reduction options to help homeowners. Today’s step by Ginnie Mae demonstrates a commitment to a more balanced and equitable housing finance system and demonstrates the critical role the agency plays in supporting government mortgage programs in the secondary market.”

Ginnie Mae expects that the new pool type will be ready for use by October, although actual issuance of pools would be dependent on authorization of extended term modifications by FHA, VA, USDA and PIH.

John Getchis, Ginnie Mae’s Senior Vice President for Capital Markets, explained the choice of the Custom pool design allows issuers control in formulation of the pool to maximize market pricing. “We think the market will find value in securities backed by these loans,” Getchis said, “so we wanted to provide a pooling structure that would enable issuers to capture that value, thereby enhancing their ability to provide the strongest possible options to the homeowners while remaining respectful of investors’ capital. By selecting the Custom pool design, which is a single-issuer MBS, market-makers and institutional investors will have knowledge of the pool contents and related issuer – two important determinants of market value.”

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.

6/8/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was $77.63 billion in May, the tenth consecutive month issuance exceeded $75 billion. Ginnie Mae MBS issuance illustrates the liquidity of the program and its value in meeting the mortgage needs of homebuyers and rental property owners. Approximately 288,158 homes and apartment units were financed by Ginnie Mae guaranteed MBS in May.

“The consistency and utility of the Ginnie Mae MBS program are demonstrated every day by Issuers and investors who choose the security in a competitive marketplace,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our commitment to maintain a strong and flexible MBS program that produces the types of securities investors demand is the foundation of Ginnie Mae’s ability to finance affordable homeownership and rental housing.”

A breakdown of May issuance of $77.63 billion includes $72.83 billion of Ginnie Mae II MBS and $4.80 billion of Ginnie Mae I MBS, which includes $4.70 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of May 31 was $2.118 trillion, up from $2.105 trillion in April, and down from the May 2020 level of $2.149 trillion.

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.

5/11/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was a record $89.70 billion in April, up from $82.25 billion issued in March. Ginnie Mae MBS products and consumer-focused Issuers continue to meet the mortgage needs of homebuyers and rental property owners in the continuing low interest rate mortgage environment. Approximately 332,300 homes and apartment units were financed by Ginnie Mae guaranteed MBS in April.

“Investors continue to add Ginnie Mae MBS to their fixed-income portfolios because of the high-quality and liquidity of the securities,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our commitment to maintain a strong and flexible MBS program that produces the types of securities investors demand is the foundation of Ginnie Mae’s ability to finance affordable homeownership and rental housing.”

A breakdown of April issuance of $89.70 billion includes $85.48 billion of Ginnie Mae II MBS and $4.22 billion of Ginnie Mae I MBS, which includes $4.16 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of April 30 was $2.109 trillion, up from $2.095 trillion in March, and down slightly from the April 2020 level of $2.145 trillion.

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.

​​
4/8/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was $82.25 billion in March, up from $77 billion issued in February. Issuance continues to be fueled by across-the-board demand for government-backed mortgages as consumers increase home refinance and home purchase volume during this period of very low interest rates. Approximately 294,072 homes and apartment units were financed by Ginnie Mae guaranteed MBS in March.

“The demand for high-quality, fixed-income assets like Ginnie Mae MBS continues to be a source of affordable financing for homeownership and rental housing,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Although mortgage rates have increased from their all-time lows, strong consumer appetite for the mortgage programs of our federal insuring and guaranteeing partners continues to drive home purchase and mortgage refinancing and fuel MBS issuance and investment.”

A breakdown of March issuance of $82.25 billion includes $76.81 billion of Ginnie Mae II MBS and $5.44 billion of Ginnie Mae I MBS, which includes $5.35 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of March 31 was $2.1 trillion, not significantly different from $2.105 trillion in February, and down slightly from the March 2020 level of $2.14 trillion.

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.

​​
4/5/2021

WASHINGTON, D.C. – Ginnie Mae announced today that a record 65 Platinum securities transactions were completed in March 2021. In a typical month, between 19 and 22 Platinum transactions are executed. The March 2021 volume represents approximately $5.6 billion of business.

“March demonstrates the success of our Platinum Automation and expansion of the Platinum Product Suite & User base,” said Richard Perrelli, Ginnie Mae Product Manager for Multiclass securities.

Platinum demand was additionally bolstered by the effect near record-low interest rates had on MBS prepayment activity, which shrank the outstanding size of many Ginnie Mae MBS pools. Smaller pools are, all else equal, more expensive and time-consuming to administer. By combining smaller MBS securities into Platinum securities, investors increase operational efficiency and reduce costs.

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.

3/31/2021

Washington, D.C. – Ginnie Mae released its latest Capital Markets Live podcast, which takes an in-depth look at the effect mortgage delinquency and associated loss mitigation and servicing activities are having on the mortgage-backed securities market.

Ginnie Mae Senior Vice President for the Office of Capital Markets, John Getchis, is joined on the podcast by Mr. Cooper Group President and CEO, Jay Bray, for a wide-ranging discussion.

The Ginnie Mae Capital Markets Live podcast can be heard here. For more information, please email: ocmglobalinvestorinquiry@hud.gov

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.

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Last Modified: 10/14/2020 7:40 AM