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10/8/2021

WASHINGTON, D.C. – Ginnie Mae reported today mortgage-backed securities (MBS) issuance volume for fiscal year 2021 was a record $939 billion, with issuance for September coming in at approximately $73 billion. Record Ginnie Mae MBS issuance reflects the strength and value of the Ginnie Mae program in meeting the mortgage needs of homebuyers and rental property owners. Approximately 263,061 homes and apartment units were financed by Ginnie Mae guaranteed MBS in September.

“It has been a remarkable year for the Ginnie Mae MBS program,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our robust and flexible business platform enabled Ginnie Mae to attract record amounts of investment capital from around the world to finance affordable homeownership and rental housing for families across the country.”

A breakdown of September 2021 issuance of $72.88 billion includes $69.26 billion of Ginnie Mae II MBS and $3.63 billion of Ginnie Mae I MBS, which in turn includes approximately $3.5 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of September 30 was $2.130 trillion, up from $2.124 trillion in the prior month, and up slightly from $2.117 trillion in September 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.

​​
9/20/2021

WASHINGTON, D.C. – Ginnie Mae today released its latest Capital Markets Live podcast, which examines how the mortgage-backed securities market is evolving post-pandemic.

Ginnie Mae Managing Director, International Markets Alven Lam is joined on the podcast by Scott Buchta, Senior Managing Director and Head of Fixed Income Strategy at Brean Capital, LLP. 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.

9/8/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was $70.85 billion in August 2021. 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 260,779 homes and apartment units were financed by Ginnie Mae guaranteed MBS last month.

“Although loan production is slowing, Ginnie Mae continues to see strong MBS issuance and steady investor demand, a reflection of the broad appeal and value of the Ginnie Mae MBS program and its role in financing affordable homeownership and rental housing,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our commitment to maintaining an innovative MBS program that produces the types of securities investors demand and that Issuers can use to help consumers purchase homes in their communities continues to drive our efforts every day.”

A breakdown of August 2021 issuance of $70.85 billion includes $67.75 billion of Ginnie Mae II MBS and $3.10 billion of Ginnie Mae I MBS, which in turn includes approximately $3.0 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of August 31 was $2.124 trillion, up from $2.121 trillion in the prior month, and up slightly from $2.118 trillion in August 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.

 

8/12/2021

WASHINGTON, D.C. – Ginnie Mae today announced it will extend the comment period on its Request for Input (RFI) on Eligibility Requirements for Single-Family MBS Issuers by an additional 60 days. This extension recognizes the significance of and interest in the proposal, stakeholder requests for more time, and Ginnie Mae’s commitment to carefully considering input, analyzing data, and ensuring a collaborative comment process. In addition, Ginnie Mae removes references in the RFI suggesting that revisions to existing financial requirements will take effect for calendar year 2021 audited financial statements as it may take more time to review and finalize potential changes.

The extension will also provide additional time for coordination with other relevant bodies, particularly the Federal Housing Finance Agency (FHFA) and the Conference of State Bank Supervisors (CSBS), both of whom are working on similar financial standards. Ginnie Mae is committed to working toward close alignment among the entities that maintain financial standards for the MBS market, and taking a comprehensive approach to this issue, in close collaboration with our issuers.

The revised submission deadline for formal comments to this RFI is October 8, 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.

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8/9/2021

WASHINGTON, D.C. – Ginnie Mae mortgage-backed securities (MBS) issuance volume was $74.29 billion in July 2021. 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 274,882 homes and apartment units were financed by Ginnie Mae guaranteed MBS in July 2021.

“Strong issuance and steady investor demand demonstrate the broad appeal and value of the Ginnie Mae MBS program and its role in financing affordable homeownership and rental housing,” said Ginnie Mae Acting Executive Vice President Michael Drayne. “Our commitment to maintaining an innovative MBS program that produces the types of securities investors demand and that Issuers can use to help consumers purchase homes in their communities is the foundation of all that we do.”

A breakdown of July 2021 issuance of $74.29 billion includes $70.19 billion of Ginnie Mae II MBS and $4.11 billion of Ginnie Mae I MBS, which in turn includes $3.99 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance as of July 31 was $2.121 trillion, up from $2.112 trillion in the prior month, and up slightly from $2.115 trillion in July 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.

​​
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.

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