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Press Releases

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5/23/2022

WASHINGTON, D.C. – Today, Ginnie Mae announces the rollout of enhancements to its Digital Collateral Program and the release of updated guidance for the securitization of eNotes. The revised Digital Collateral Guide (eGuide) applies to all existing eIssuers and provides eligibility and technological requirements for aspiring applicants.

There has been continued interest in Ginnie Mae’s Digital program since Ginnie Mae securitized its first eNote in January 2021. The program is currently in a pilot phase with a limited number of approved eIssuers and has securitized over $8 Billion in eNotes. All current participants in the Ginnie Mae program are existing Ginnie Mae Issuers, a requirement under the program. After a successful pilot phase of its new Digital Collateral Program, Ginnie Mae will reopen the program to new applicants this June.

Program enhancements include the ability to perform eModifications to eNotes, streamlined procedures for Release of Secured Party requests, and the acceptance of eNotes using a Power of Attorney. All eGuide updates are effective June 1st, 2022.

“The lessons learned during the initial pilot of the Digital Collateral Program are now incorporated into the eGuide and resulting enhancements. We are excited to expand access to this program” said Ginnie Mae President Alanna McCargo. “eMortgages bring efficiency and resilience to mortgage lending, and more importantly, improve access to homeownership for borrowers who are not well served by the traditional mortgage lending approach,” she continued.

Ginnie Mae will reopen the Digital Collateral Program to new participants beginning June 21st , 2022. Ginnie Mae has named Lynne Chandler as Digital Policy Director. The full eGuide, Appendix V-07 of the Ginnie Mae Mortgage- Backed Securities Guide, is referenced in Modernization Initiatives at www.ginniemae.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.

5/17/2022
WASHINGTON, D.C. – Ginnie Mae reiterated existing guidelines for delinquent loan buyouts from Ginnie Mae pools with the publication today of All Participants Memorandum (APM) 22-03. The publication of APM 22-03 has been coordinated with the Federal Housing Administration (FHA), Veterans Administration (VA) and US Department of Agriculture, Rural Development Services (RDS) (collectively, “the Agencies”). APM 22-03 affirms that the Agencies’ loss mitigation policies should not be interpreted as requiring loan modifications that conflict with the terms of the Ginnie Mae MBS Guide, which states that loans may not be bought out of a pool until three consecutive payments have been missed or the borrower has completed a Trial Payment Plan (TPP) prior to a modification.  

“Ginnie Mae recognizes that many homeowners continue to face financial hardship because of the COVID-19 pandemic,” said Ginnie Mae President Alanna McCargo. “We are committed to providing Issuers with the tools they need to ensure sustainable homeownership for qualified homeowners and to coordinating our efforts with FHA, VA and RDS.”
 
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.

5/10/2022

WASHINGTON, D.C. – Ginnie Mae guaranteed nearly $52 billion in mortgage-backed securities (MBS) in April 2022, supporting affordable homeownership and rental units for more than 186,500 households during the month. Ginnie Mae is seeing continued strength in purchase market activity at insuring agencies driven by the Federal Housing Administration (FHA) and Department of Veterans Affairs (VA) lending, and a decrease in rate term refinance activity, given the rapid increases to mortgage rates over the period.

The April issuance includes $49.29 billion of Ginnie Mae II MBS and $2.38 billion of Ginnie Mae I MBS, which includes approximately $2.25 billion of loans for multifamily housing.

As of April 30, Ginnie Mae's total outstanding principal balance was $2.199 trillion, an increase from $2.182 trillion in March 2022 and $2.105 trillion in April 2021.

“April issuance added $19 billion to the overall portfolio this month, the strongest growth we have seen in quite some time,” said Ginnie Mae President Alanna McCargo. “Despite the rapidly changing housing market dynamics, we are also on pace to cross the $2.2 trillion threshold in May.” “Total new mortgage origination volume is expected to slow due to rising mortgage rates and home affordability challenges, yet we see a strong MBS issuance volume of more than $50 billion that continues to help ensure support for first-time homebuyers and those seeking affordable rental housing during this cycle,” added President McCargo.

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.

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4/29/2022

WASHINGTON, D.C. – For the first time in Ginnie Mae’s more than 50-year history, former presidents of Ginnie Mae gathered for a Presidents Roundtable. During the meeting, past Ginnie Mae presidents discussed lessons learned from their respective tenures and how they can inform Ginnie Mae’s growing role in providing accessible and affordable housing opportunities for all Americans.

Led by Ginnie Mae President Alanna McCargo with remarks from Housing and Urban Development Secretary Marcia L. Fudge, the April 28 roundtable focused on:

• how technology is changing the mortgage market

• levers that will safely increase equitable homeownership

• managing the risks of a changing lender landscape

• strategies to help homebuyers thrive in a time of rising mortgage rates

Past Ginnie Mae presidents who participated in Thursday’s meeting included: John Dalton (President 1977-1979), Ronald Rosenfeld (President 2001-2004), Robert Couch (President 2006-2007), Joseph Murin (President 2008-2009), and Theodore Tozer (2010-2017).

“The challenges the mortgage market face today – rising home prices and mortgage rates, rapid technological change, and new market entrants – are similar to what past leaders have met and managed,” McCargo said. “Tapping the experience of the presidents who came before me will help inform how Ginnie Mae and the consumers it serves will thrive in the future. I look forward to building on the knowledge and legacies of my predecessors.”

President McCargo was sworn in as Ginnie Mae’s 18th President in December 2021 as the first Senate confirmed president in nearly five years and the first woman to hold the role. Thursday’s roundtable builds on Ginnie Mae’s continuing role as the government’s leading source of liquidity for America’s housing programs. These programs serve first-time homebuyers, low- and moderate-income borrowers, rural homeowners, tribal homebuyers and veteran homebuyers by connecting world-wide capital markets on behalf of affordable homeownership and rental housing in America.

During the discussion, President McCargo emphasized the Biden-Harris Administration’s commitment to technology innovation and expanded industry partnership to break down systemic barriers, enabling Americans to safely secure the American Dream.

The past presidents provided insight and advice that will help Ginnie Mae exercise industry leadership while working with the housing finance industry through this period of increasing inflation, rising mortgage rates and accelerating home prices. This event is the first in a series focused on meeting the challenges and building on the opportunities of a dynamic housing finance market.

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.

4/26/2022

WASHINGTON, D.C. – Ginnie Mae today released its latest Capital Markets Live podcast, which examines how the agency’s mortgage-backed securities may be affected by inflation, Federal Reserve tightening and geopolitical forces.

Ginnie Mae Managing Director, International Markets Alven Lam is joined on the podcast by Deborah Jones, Senior Vice President and Director of Mortgage Capital Markets at Citizens Bank, N.A.

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.

4/12/2022

WASHINGTON, D.C. – Ginnie Mae guaranteed mortgage-backed securities (MBS) financed more than 189,000 homes and apartment units in March 2022 with the month’s issuance volume reaching $51.18 billion.​

The March issuance includes $48.71 billion of Ginnie Mae II MBS and $2.47 billion of Ginnie Mae I MBS, which includes approximately $2.31 billion of loans for multifamily housing.

As of March 31, Ginnie Mae's total outstanding principal balance was $2.186 trillion, up from $2.175 trillion in February 2022 and $2.095 trillion in March 2021.

“March’s issuance volume shows Ginnie Mae MBS program continues to provide strong liquidity to meet the financing needs of homeowners and rental property owners,” said Ginnie Mae President Alanna McCargo. “With rising interest rates, we expect volumes to decline as affordability is challenged. In this current environment, we are steadfast in our mission to remain a consistent source of finance for affordable housing and to find innovative ways to expand access to credit.”

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.

​​
4/5/2022

Washington, DC –Ginnie Mae has been named a recipient of a 2022 CIO 100 award by Foundry’s CIO. The annual award program recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).

“This is an important recognition of the ambitious approach Ginnie Mae is taking to re-imagine and transform the way the agency manages our technology infrastructure,” said Barbara Cooper-Jones, Senior Vice President of the Office of Enterprise Data and Technology. “The mortgage finance industry is constantly innovating, and our technology transformation program consolidates our IT operations in a single and secure government cloud. Our cloud migration will increase agility, speed, and operational efficiency and enable digital transformation that meets the evolving needs of those who do business with Ginnie Mae. Our investment in cloud operations will help us sustain a strong government-financed housing market for millions of families.”

“Recognizing the finest work in IT, the CIO 100 Awards showcase the companies and executives leading the charge in innovation as the tech industry continues rapidly advancing. Across the board, this year’s honorees are helping create a more advanced, inclusive environment for all tech professionals” said, Anne McCrory, Group Vice President, Customer Experience and Operations, IDG Events."

Ginnie Mae will be recognized at the CIO ​100 Symposium & Awards Ceremony held August 15-17.

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.

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 Foundry.​

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.

3/22/2022

WASHINGTON, D.C. – Ginnie Mae today released its latest Capital Markets Live podcast, which examines how the agency’s mortgage-backed securities may be affected by Federal Reserve asset tapering.

Ginnie Mae Managing Director, International Markets Alven Lam is joined on the podcast by Keir Joyce, Portfolio Manager in the fixed-income division of T. Rowe Price.

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.


3/16/2022

WASHINGTON, DC – This week, Ginnie Mae President Alanna McCargo participated in her first public engagement since being confirmed at the National Association of Hispanic Real Estate Professionals (NAHREP) National Policy Conference in Washington. McCargo covered a range of topics and spoke about the equity order that President Biden and Secretary Fudge have centered federal agencies around. One theme she hit was her vision for Ginnie Mae to have leadership and staff who look like and understand the communities that we ultimately serve, and to make access to liquidity possible for smaller underserved community-based players.

During her remarks, Alanna announced the appointment of Ginnie Mae’s first Latino Executive Vice President, Sam Valverde. Valverde was sworn in while McCargo was delivering her speech, and the news was met with an ovation by the NAHREP attendees. “We must have leaders that look like and understand the communities we ultimately serve,” McCargo said.

Ginnie Mae is expanding its leadership team with the appointments of Valverde as Executive Vice President and Felecia Rotellini as Senior Advisor and Chief of Staff to the President.

“Sam and Felecia are great complements to our executive leadership team and will be integral to the organization as we advance our strategic roadmap and strengthen our service to the nation’s diverse housing market,” said Ginnie Mae President Alanna McCargo. “I am thrilled to have their counsel and support as we work with all of our stakeholders to create broader and more equitable access to affordable homeownership and rental housing.”

Valverde was most recently Supervisory Attorney Advisor at the Federal Housing Finance Agency (FHFA) in the Division of Conservatorship Oversight and Readiness. In that role, he led agency-wide projects intended to support greater access to mortgage credit and affordable rental opportunities for working families. He coordinated efforts to develop a post-conservatorship regulatory framework for the government-sponsored enterprises. Prior to his service at FHFA, Valverde served as a Counselor for Domestic Finance at the U.S. Treasury Department, focusing on consumer and housing finance issues.

Rotellini brings to Ginnie Mae a deep background in corporate governance, regulation, compliance, and enforcement. She has bank supervisory and financial services expertise, as well as consumer protection experience in the subprime credit markets. As a former leader in financial services compliance and supervision, her experience in building diverse coalitions will help advance the public and stakeholder engagement strategy for Ginnie Mae.

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 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.

3/8/2022

WASHINGTON, D.C. – Approximately 191,000 homes and apartment units were financed by Ginnie Mae guaranteed mortgage-backed securities (MBS) in February 2022, indicating that the month’s issuance volume maintained the strong liquidity of the program and its value in meeting the financing needs of homeowners and rental property owners. Ginnie Mae’s MBS issuance volume for February 2022 was $53.01 billion.

“The release of February MBS pool factors and prepayment activity show encouraging results,” said Office of Capital Markets Senior Vice President John Getchis. “Noticeably, borrower default-related prepayments occurring in Ginnie Mae’s securities continue their trend of monthly declines. February’s default-related prepayments consisted of less than 29,000 loans, the lowest level since April 2020, and well below the 48,708 average of the preceding 12-months. This trend improves the value proposition of Ginnie Mae MBS relative to other fixed-income and MBS investments.”

A breakdown of February 2022 issuance of $53 billion includes $50.26 billion of Ginnie Mae II MBS and $2.75 billion of Ginnie Mae I MBS, which in turn includes approximately $2.59 billion of loans for multifamily housing.

As of February 28, Ginnie Mae's total outstanding principal balance was $2.179 trillion, up from $2.168 trillion in January 2022 and up from $2.106 trillion in February 2021.

For more information on monthly MBS issuance, UPB balance, REMIC mon​thly 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.

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Last Modified: 8/13/2021 11:26 PM