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6/21/2019

Today, Ginnie Mae announced that it has removed the previously announced restriction limiting loanDepot to Ginnie Mae II custom pools for VA single family guaranteed loans. loanDepot is again eligible to utilize the Ginnie Mae I and Ginnie Mae II multi-Issuer securities programs for such loans effective for July 1, 2019 issuance.

The removal of such a restriction is based on the Issuer having demonstrated to Ginnie Mae’s satisfaction that (a) its prepayment speeds are substantially in-line with those of equivalent multi-Issuer cohorts, and (b) such improved performance is sustainable.

These program restrictions are part of Ginnie Mae’s ongoing efforts to enforce Section 3-21 of Ginnie Mae’s MBS Guide, which establishes as a required program risk parameter that an issuer’s “origination and servicing practices…ensure that the performance of an Issuer’s securities is in line with that of similarly constituted securities for the Ginnie Mae portfolio as a whole.”

Issuers with questions should contact their Ginnie Mae Account Executive. Investors with questions should contact Ginnie Mae’s Office of Capital Markets.

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.

6/12/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $39.829 billion in May.

A breakdown of May issuance includes $38.571 billion of Ginnie Mae II MBS and $1.517 billion of Ginnie Mae I MBS, which includes $1.258 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.068 trillion is an increase from $1.960 trillion in May 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 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. ​

6/10/2019

Washington, D.C. – Ginnie Mae today released a progress update to its Ginnie Mae 2020 white paper, detailing strides the agency has made toward modernizing its mortgage-backed securities (MBS) platform, enhancing counterparty risk management and fostering innovative improvements to its program.

“At $2.1 trillion in size and growing, the Ginnie Mae MBS portfolio is an integral component of the U.S. mortgage finance system,” said Ginnie Mae Acting President Maren Kasper. “Ginnie Mae continues to demonstrate its capacity to effectively operate and maintain a state-of-the-art technology platform and counterparty risk framework, keeping pace with innovation and evolution in the mortgage finance system. This allows us to fulfill our mission by facilitating liquidity in the American housing market, ensuring the health of the Ginnie Mae security and protecting taxpayer interests. The report details the progress we have made in the last year and outlines our blueprint for the future.”

Since publishing the Ginnie Mae 2020 roadmap, Ginnie Mae has not only delivered on a host of previously announced strategic initiatives, but has also developed plans for a wide range of new improvements, which are reflective of its mandate to provide low-cost financing for the government-insured mortgage programs while ensuring stability in the secondary market and minimizing the risk to taxpayers. Ginnie Mae’s achievement of its strategic goals in the past year will be discussed in detail at the agency’s Summit in Washington D.C. from June 13-14, where nearly 1,000 people from the mortgage finance, capital markets, public policy and other fields with an interest in the mortgage secondary market are expected to attend.

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 (FHA), Office of Public and Indian Housing (PIH), the U.S. Department of Veterans Affairs' (VA), the U.S. Department of Agriculture's (USDA) Rural Development Housing, and Community Facilities Programs and Rural Development Guaranteed Rural Rental Housing Program (RD).

6/6/2019

WASHINGTON, D.C. - Ginnie Mae announced today that is has re-opened registration for the 2019 Ginnie Mae Summit due to strong demand. Nearly 1,000 mortgage industry participants and global fixed-income investors have signed up for the two-day event in Washington, D.C. on June 13th and 14th. The Summit will focus on a range of topics including U.S. housing finance policy, Ginnie Mae 2020 strategic initiatives, counterparty risk efforts and program modernization.

"Interest in the Summit has been extremely strong and extending registration will enable those who wish to participate the opportunity to do so," said Acting President Maren Kasper. "At the Summit, we are committed to bringing increased transparency to market participants, while also providing the industry an opportunity to hear from some of the sector's top voices. Keynote speakers include U.S. Department of Housing and Urban Development (HUD) Secretary Ben Carson, Federal Housing Finance agency (FHFA) Director Mark Calabria, and HUD Acting Deputy Secretary and FHA Commissioner Brian Montgomery. It's an exciting time for everybody to get an understanding of how Ginnie Mae is thinking about the present and planning for the future, and how that work integrates into the larger housing system."

Educational breakout sessions will also provide an in-depth look at Ginnie Mae's business, and the mortgage finance industry as a whole, from a variety of perspectives. Speakers will include leadership from the U.S. Department of Housing and Urban Development, the Mortgage Bankers Association, the Urban Institute and more.

For more information on the event, please click 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 (FHA), Office of Public and Indian Housing (PIH), the U.S. Department of Veterans Affairs' (VA), the U.S. Department of Agriculture's (USDA) Rural Development Housing, and Community Facilities Programs and Rural Development Guaranteed Rural Rental Housing Program (RD).

5/21/2019

WASHINGTON, D.C. - Nearly 800 industry partners, housing finance experts and government officials will join Ginnie Mae from June 13 to 14 to explore modernization in the housing finance industry at the 2019 Ginnie Mae Summit. The two-day event in Washington, D.C. will focus on topics including counterparty risk, program modernization and housing policy.

"The 2019 Ginnie Mae Summit will feature real-time insights about how we're thinking about the business, particularly how it ties to Ginnie Mae 2020," said Acting President Maren Kasper. "At the Summit, we are going to be transparent in ways that we never have been before. It's an exciting time for everybody to get a real understanding of how we're thinking about the present and planning for the future."

The fifth Ginnie Mae Summit takes place as the organization, and the housing finance industry as a whole, is in the process of modernizing their platforms. This was outlined in the Ginnie Mae 2020 white paper, which will be a major focus of the event.

Currently, Ginnie Mae's outstanding unpaid principal balance exceeds $2 trillion dollars, making Ginnie Mae the second-largest source of residential finance in the U.S. In the wake of these accomplishments, the 2019 Ginnie Mae Summit is an opportunity to bring the mortgage finance industry together – from lenders and document custodians to policymakers and industry analysts – to ensure success continues for all program participants.

"In many cases when there are industry events, Issuers will meet on their own, investors will meet on their own, other stakeholders will meet in different forums," added Kasper. "By contrast, the Ginnie Mae Summit is a very unique chance for everybody to be in the same room at the same time. Not only that, but Ginnie Mae gets to spend two days talking about what's most important to us – and, therefore, what's most important to our stakeholders."

Educational breakout sessions will also provide an in-depth look at Ginnie Mae's business, and the mortgage finance industry as a whole, from a variety of perspectives. Speakers will include leadership from the U.S. Department of Housing and Urban Development, the Mortgage Bankers Association, the Urban Institute and more.

For more information on the event, please click 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 (FHA), Office of Public and Indian Housing (PIH), the U.S. Department of Veterans Affairs’ (VA), the U.S. Department of Agriculture’s (USDA) Rural Development Housing, and Community Facilities Programs and Rural Development Guaranteed Rural Rental Housing Program (RD).

5/17/2019

Washington, D.C. – Ginnie Mae today published a summary of meetings it held with 13 of its largest issuers in early 2019 that covered a range of topics, including: operational state, key priorities, corporate structure, and an evaluation of how their business would fare in a stressed scenario. This series of meetings was completed in conjunction with Ginnie Mae’s efforts to evolve its counterparty risk framework. Ginnie Mae’s focus remains on ensuring that the largest participants in the program have the liquidity and necessary resources to operate through all economic cycles.

“The series of meetings were constructive and provided the agency with a better understanding of the current business landscape, possible risks that could arise in a time of stress and the level of contingency planning Issuers have undertaken in preparation for a potential economic slowdown,” said Maren Kasper, Acting President, Ginnie Mae. “This is likely the first of a regular exercise with the largest participants in the Ginnie Mae program.”

From a policy perspective, Ginnie Mae will be providing a thorough update in the Ginnie Mae 2020 progress report, which is expected to be released in early June 2019, ahead of the Ginnie Mae Summit.

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.

5/14/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $34.192 billion in April.

A breakdown of April issuance includes $32.675 billion of Ginnie Mae II MBS and $1.517 billion of Ginnie Mae I MBS, which includes $1.376 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.063 trillion is an increase from $1.950 trillion in April 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 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.

5/13/2019

Washington, D.C. – Ginnie Mae recently announced the appointment of two leadership staff positions: Adetokunbo “Toky” Lofinmakin was appointed to the Senior Executive Service and named Chief Financial Officer (CFO) after serving in the role in an acting capacity since January 2018; and Thomas “Greg” Young was named Director of Counterparty Risk Management. Ms. Lofinmakin will continue to report to Acting President, Maren Kasper. Mr. Young will report to Greg Keith, Senior Vice President and Chief Risk Officer.

“Both Toky and Greg bring deep expertise to Ginnie Mae in their respective fields,” said Kasper. “Each will serve in a role that is critical to maintaining the sound financial foundation of our mortgage-backed securities (MBS) program. As we continue to evolve to meet the challenges of today’s operating environment, we look forward to their leadership contributions to the agency.”

As CFO, Ms. Lofinmakin oversees the preparation of financial reports in accordance with the standards of the Federal Accounting Standards Advisory Board (FASAB), Financial Accounting Standards Board (FASB), Generally Accepted Accounting Principles (GAAP), and Office of Management and Budget (OMB) Circulars. In addition, she manages all accounting operations for Ginnie Mae’s $2.0 trillion MBS portfolio, including applying financial management policies and procedures, preparation of the annual budget, accounting systems oversight, cash management, investment services, audit readiness, and enhancing internal controls over financial reporting.

Ms. Lofinmakin joined Ginnie Mae in 2015 as Controller and was responsible for directing operational accounting transactions for the various aspects of Ginnie Mae in compliance with accounting policies and best practices. Ms. Lofinmakin managed the daily operations of the accounting department including developing and implementing systems and processes for collecting, analyzing, and reporting financial information.

As Director of Counterparty Risk Management, Mr. Young is responsible for the initiation of counterparty policy changes, approval of counterparties that enter into business relationships with Ginnie Mae, collaborative monitoring of counterparties, formulation of mitigants to counterparty risk presented, and for the development or enhancement of analytical or process tools to improve the effectiveness of counterparty risk management activities. In this capacity, Mr. Young will work closely with Ginnie Mae’s Strategic Planning and Policy unit to continue the agency’s leadership in shaping the oversight response to changes in the residential finance industry.

With 24 years of experience with the Goldman Sachs Group, including as the Chief Risk Officer of the Goldman Sachs Bank USA, Mr. Young brings a wealth of risk management experience to his new role. Mr. Young has served in a variety of risk management positions throughout his career with Goldman Sachs, including Global Head of Credit in Goldman Sachs Group’s Investment Management Division, Head of Credit Risk Management in Asia, and Head of Global Hedge Fund Counterparty Risk. Mr. Young was made a Managing Director of Goldman Sachs in 2005.

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.

5/3/2019

Washington, DC –Ginnie Mae has been named a recipient of a 2019 CIO 100 award by IDG’s CIO. The 32nd annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).

“This is important recognition of the cross-divisional teamwork taking place to transform the way Ginnie Mae receives and analyzes data that has been ongoing for several years,” said Barbara Cooper-Jones, senior vice president of the Office of Enterprise Data and Technology. “Our strategic goal is to make it faster and more efficient to do business with Ginnie Mae, while enabling the organization to meet its mission of safely providing a secondary market for government mortgage loans and minimize taxpayer risk.”

“Across the business landscape, companies everywhere recognize the vital role that an innovative, value-driven approach to information technology plays in their success,” said Maryfran Johnson, IDG’s Executive Director of CIO Programs. “This year’s CIO 100 winning companies are inspiring examples of how IT leadership, business collaboration, and digital transformation will drive future growth.”

Ginnie Mae will be recognized at The CIO 100 Symposium & Awards Ceremony on Aug. 21.

About the CIO 100 Awards

The annual CIO 100 Awards celebrate 100 organizations and the teams within them that are using IT in innovative ways to deliver business value, whether by creating competitive advantage, optimizing business processes, enabling growth or improving relationships with customers. The award is an acknowledged mark of enterprise excellence. Recipients are selected through a three-step process. First, companies fill out an online application form detailing an innovative IT and business initiative. Next, a team of external judges (many of them former CIOs) reviews the applications in depth, looking for leading-edge IT practices and measurable results. Finally, CIO editors review the judges’ recommendations and select the final 100.

Coverage of the 2019 CIO 100 Awards will be available online at CIO.com in August 2019 and in the summer issue of CIO’s digital magazine.

About CIO

CIO focuses on attracting the highest concentration of enterprise CIOs and business technology executives with unparalleled peer insight and expertise on business strategy, innovation, and leadership. As organizations grow with digital transformation, CIO provides its readers with key insights on career development, including certifications, hiring practices and skills development. The award-winning CIO portfolio — CIO.com, CIO Events, CIO Strategic Marketing Services, CIO Forum on LinkedIn, CIO Executive Council and CIO primary research — provides business technology leaders with analysis and insight on information technology trends and a keen understanding of IT’s role in achieving business goals. CIO is published by IDG Communications, Inc. Company information is available at www.idg.com.

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.

5/3/2019

Washington, D.C. – Today Ginnie Mae published a Request for Input (RFI) as it considers making changes to the parameters governing loan eligibility for pooling of mortgages into its security. This RFI is a part of the agency’s continuing effort to monitor and support the market performance of the Ginnie Mae mortgage-backed securities (MBS). The publication of the RFI follows policy changes already implemented by Ginnie Mae and the Department of Veterans Affairs (VA) to address abnormal prepayment patterns in some mortgages pooled in Ginnie Mae MBS that negatively affect MBS pricing, to the detriment of home mortgage loan affordability.

“Protecting the value of our securities and, thereby, the borrowers Ginnie Mae serves, is paramount and, as such, modifications to our pooling parameters are under consideration,” said Ginnie Mae Acting President Maren Kasper. “This RFI enables the agency to take views from a wide variety of stakeholders under consideration as we work to eradicate abnormal prepayment patterns that are negatively impacting the performance of the Ginnie Mae MBS program.”

The RFI provides background information and analysis for consideration and specifically requests input concerning the potential removal from, or the restriction of, certain cash-out refinance mortgages within the Ginnie Mae II MBS. All responses to the RFI are to be submitted to Ginnie Mae by May 22, 2019. The RFI may be viewed 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.

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