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Press Releases

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11/20/2018

WASHINGTON, D.C. - Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $34.370 billion in October.

A breakdown of October issuance includes $32.296 billion of Ginnie Mae II MBS and $1.444 billion of Ginnie Mae I MBS, which includes $1.290 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.019 trillion is an increase from $1.894 trillion in October 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

11/16/2018

Washington, DC – Ginnie Mae today published a new All Participants Memorandum (APM 18-07) aimed at strengthening the stability and integrity of the mortgage-backed securities market. APM 18-07 outlines steps the agency will take to evaluate the credit strength of new Issuers, implements new notification requirements for issuers engaged in certain subservicer advance or servicing income agreements, and codifies Ginnie Mae’s ability to impose additional financial or operational requirements on program participants when warranted by market conditions.

Specifically, APM 18-07 does the following:

  • Requires servicers to notify Ginnie Mae if any arrangements are made to finance Ginnie MSRs, ensuring that Ginnie Mae can adequately monitor risks as they move throughout the system.
  • Modifies application requirements for new issuers so that applicants who would immediately appear on Ginnie Mae’s internal financial conditions watchlist are not approved as Ginnie Mae issuers.
  • Clarifies Ginnie Mae’s authority to require supplemental financial or operating requirements before certain issuers are granted additional commitment authority.

“These enhancements add to the factors Ginnie Mae will consider as we keep pace with an evolving mortgage market, protect taxpayers, and ensure that important differences in risk among issuers and servicers are properly accounted for,” said Michael Bright Ginnie Mae EVP and COO. “Our goal continues to be the assurance of a safe and sound program as well as a healthy mortgage-backed security.”

There are nearly 400 approved Issuers of Ginnie Mae MBS. As of Sept. 30, more than $2.008 trillion of Ginnie Mae MBS were outstanding, comprised of more than 11 million loans.

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.

11/1/2018

WASHINGTON, D.C. – Fueled by a new user-friendly online process to create Ginnie Mae Platinum Securities and additional product offerings to the program, Platinum issuance volume surged in FY 18 with more than $20 billion of securities formed, helping to increase the liquidity in the Ginnie Mae mortgage-backed securities (MBS) market. Issuance volume was $7.8 billion it was in 2017.

The larger output comes as more sponsors are taking advantage of the improved automated process available through the MyGinnieMae portal, which enables participation from smaller firms with limited staff and large portfolio managers. MyGinnieMae is a single, secure gateway to all approved Ginnie Mae applications via a dedicated entry point. The portal is becoming a one-stop, full-service solution for accessing Ginnie Mae business applications, and is just one component of the technology modernization program underway at Ginnie Mae. Details of the modernization effort can be found in the Ginnie Mae 2020 white paper published earlier this year.

Supporting the operational aspect of multi-class Platinum Securities is another way for Ginnie Mae to increase liquidity and price stability for Ginnie Mae MBS and the government mortgage loan market that helps to ensure the lowest possible mortgage rates for homeowners across the country.

Ginnie Mae Platinum Securities contribute to this effort by allowing investors to combine Ginnie Mae MBS pools with uniform mortgage interest rates and original terms to maturity into a single security, backed by the full faith and credit of the United States government. Investors then receive a single payment from the combined securities every month, rather than separate payments from each individual security. Because it lowers administrative costs and improves liquidity, particularly for small pools, the Ginnie Mae Platinum Security is an attractive product. Ginnie Mae Platinum Securities can be used in structured finance transactions, repurchase transactions and general trading.

About Ginnie Mae
For the past 50 years, Ginnie Mae has provided Americans, including veterans, first-time homebuyers, and low- and moderate-income borrowers, the opportunity for homeownership. Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for 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.

10/15/2018

WASHINGTON, D.C. – Ginnie Mae’s mortgage-backed securities (MBS) portfolio has reached $2.008 trillion in unpaid principal balance, the federal guarantor announced today. That’s up from $1 trillion just eight years ago.

“The fact that Ginnie Mae has reached $2 trillion in outstanding principal underscores the corporation’s role and highlights our responsibilities as a pillar of America’s secondary mortgage market,” Ginnie Mae EVP and Chief Operating Officer Michael Bright said of the milestone. “Ginnie Mae’s explicit, transparent and paid-for government guaranty has set our MBS apart as one of the most reliable fixed-income securities in the world.”

Now in its 50th year, Ginnie Mae has seen a tremendous amount of growth over the last decade due to its reliable business model that ensures the timely payment of principal and interest to security holders. The safe, efficient and rapid growth has been facilitated by a technology platform that is undergoing continuous modernization, as outlined in the recent white paper “Ginnie Mae 2020.”

Ginnie's business model significantly limits risks to taxpayers by providing a safe, effective and government-backed channel for the flow of capital for U.S. mortgages from around the world. Ginnie has never missed a payment — even during the financial crisis — and returns money to the U.S. Treasury every year. By continuing to attract global capital into the housing finance system, Ginnie helps to support homeownership for veterans, first-time homebuyers, and millions of low- and moderate-income Americans throughout the country.

Approximately $35.75 billion of Ginnie Mae MBS was issued in September. September issuance is comprised of $34.58 billion of Ginnie Mae II MBS, and $1.17 billion of Ginnie Mae I MBS, of which $1.03 billion is backed by multifamily mortgages. Total MBS issuance for fiscal year 2018 was $434.7 billion.

About Ginnie Mae
For the past 50 years, Ginnie Mae has provided Americans, including veterans, first-time homebuyers, and low- and moderate-income borrowers, the opportunity for homeownership. Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for 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.

9/17/2018

WASHINGTON, D.C. - Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $38.87 billion in August.

A breakdown of August issuance includes $37.184 billion of Ginnie Mae II MBS and $1.688 billion of Ginnie Mae I MBS, which includes $1.528 billion of loans for multifamily housing.

MBS issuance for Fiscal Year 2018 through the end of August totaled $398.983 billion. Ginnie Mae's total outstanding principal balance of $1.994 trillion is an increase from $1.871 trillion in August 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

8/13/2018

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $36.77 billion in July.

A breakdown of July issuance includes $35.383 billion of Ginnie Mae II MBS and $1.391 billion of Ginnie Mae I MBS, which includes $1.229 billion of loans for multifamily housing.

MBS issuance for Fiscal Year 2018 to the end of July totaled $360.111 billion. Ginnie Mae’s total outstanding principal balance of $1.982 trillion is an increase from $1.857 trillion in July 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

 

###

7/16/2018

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $37 billion in June.

A breakdown of May issuance includes $35.330 billion of Ginnie Mae II MBS and $1.669 billion of Ginnie Mae I MBS, which includes $1.025 billion of loans for multifamily housing.

Ginnie Mae’s total outstanding principal balance of $1.971 trillion is an increase from $1.842 trillion in June 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

###

6/15/2018

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage backed securities (MBS) totaled slightly more than $35 billion in May.

A breakdown of May issuance includes $33.431 billion of Ginnie Mae II MBS and $1.890 billion of Ginnie Mae I MBS, which includes $1.746 billion of loans for multifamily housing.

MBS issuance for Fiscal Year 2018 to the end of May totaled $286.338 billion. Ginnie Mae total outstanding principal balance of $1.960 trillion is an increase from $1.830 trillion in May 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance, and Global Market analysis, visit Ginnie Mae Issuance.

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.

###

6/14/2018

Washington, DC – Ginnie Mae announced today that it was enhancing its Issuer Operational Performance Profile (IOPP) tool with the addition of a single-family prepayment rate metric. The new metric enables Ginnie Mae MBS Issuers to more easily monitor the prepayment rate of loans in the securities they’ve issued that carry the Ginnie Mae guaranty. The new feature is the latest move by Ginnie Mae to create tools that help its issuers understand how the corporation is monitoring prepayments to ensure the integrity and market predictability of Ginnie Mae MBS.

Issuers should continue to monitor their overall IOPP scores, including this new metric, as a tool for helping to assess their relative performance in the Ginnie Mae program. The IOPP scores are not public. Issuers with questions should contact their Account Executive.

“Ginnie Mae is laser-focused on the performance of our securities and knows that only in partnership with our Issuers can we continue to attract the global capital necessary to finance affordable homeownership,” said EVP and Chief Operating Officer Michael Bright.

All eligible issuers will have access to the new prepayment feature beginning June 25.

Meanwhile, last month, Ginnie Mae announced changes to the eligibility requirements of mortgages that are insured by the Department of Veteran’s Affairs (VA), a step intended to prevent so-called churning of VA mortgages, which had been a cause of unpredictable prepayment patterns. Full details of the new requirements can be found in the corporation’s All Participants Memorandum 18-04.

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 low- to moderate-income 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 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.

6/1/2018

Washington, DC -- In the interest of providing additional clarity and transparency to Ginnie MBS investors, Ginnie Mae is announcing that it has restricted VA single family -guaranteed loans pooled by Freedom Mortgage Corporation (Freedom), SunWest Mortgage Company, Inc. (SunWest), and NewDay USA (NewDay) in Ginnie Mae pools to Ginnie Mae II custom pools only. All three issuers are restricted from including VA single family guaranteed loans in Ginnie Mae I securities or Ginnie Mae II multi-issuer securities.

Freedom and SunWest remain approved Ginnie Mae issuers and remain authorized to pool FHA and RHS single family insured mortgages in all eligible Ginnie Mae pool types. The restriction for both issuers of their VA single family loans to Ginnie Mae II custom pools is effective for July 1, 2018 issuances and concludes with January 1, 2019 issuances.

NewDay remains an approved Ginnie Mae issuer and remains authorized to pool FHA and RHS single family insured mortgages in all eligible Ginnie Mae pool types. NewDay’s restriction to Ginnie Mae II custom pools commenced with its April 1, 2018 issuances and concludes with its October 1, 2018 issuances.

The conclusion date assumes that by the specified date, an issuer has demonstrated, to Ginnie Mae’s satisfaction, that (a) prepayment speeds are substantially more in-line with those of equivalent multi-issuer cohorts, and (b) such improved performance is sustainable.

In accordance with APM 18-02 and Section 3-21 of Ginnie Mae’s MBS Guide, any issuer who produces pools of loans or loan packages that consistently demonstrate prepayment activity that is substantially different from that of comparable loan packages or pools of loans will be contacted by Ginnie Mae for further discussion and review. Any issuers restricted from participation in Ginnie multi-issuer pools may, at Ginnie Mae’s sole discretion, be permitted to again participate in multi-issuer pools once their loan packages or pools of loans perform consistent with comparable loan packages or pools of loans and once they have provided to Ginnie Mae an acceptable plan for achieving and maintaining prepayment speeds consistent with Ginnie Mae’s program requirements.

Issuers with questions or concerns 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 low- to moderate-income 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 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: 6/22/2018 7:13 PM