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9/21/2020

WASHINGTON, DC – Ginnie Mae announced today restrictions on the pooling of adjustable-rate mortgages with rates indexed to the London Interbank Offered Rate (LIBOR). Details of the restrictions, which are effective with security issuances dated on or after January 1, 2021, are published in All Participants Memorandum 20-12 (APM. 20-12).

This guidance follows Ginnie Mae’s adoption of the recommendations of the Alternative Rates Reference Committee (ARRC) relating to fallback language for new issuances of LIBOR floating rate securities.

“These changes underscore Ginnie Mae’s commitment to managing risk and keeping the MBS program current with developments in the capital markets” said Executive Vice President Eric Blankenstein. “Ginnie Mae is fervent in our commitment to working with our program participants and other federal entities to fulfill our mission and ensure that capital continues to flow efficiently through our program to support the American housing system.”

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.

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.

Multiclass Securities are structured mortgage-backed securities in which the cash flows from the underlying collateral consisting of Ginnie Mae I and II MBS are allocated to different bond classes having different maturities, coupons, and payment priorities.

9/9/2020
WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled an agency record of $77.62 billion in August, providing financing for more than 281,000 homeowners and renters.
 
A breakdown of August issuance includes $73.25 billion of Ginnie Mae II MBS and $4.38 billion of Ginnie Mae I MBS, which includes $4.11 billion of loans for multifamily housing.
Ginnie Mae's total outstanding principal balance of $2.121 trillion is an increase from $2.087 trillion in August 2019.
 
“The interest rate environment continued to be favorable for consumers purchasing and refinancing homes and for investors in affordable multifamily housing in August, demonstrated by the record-breaking volume of new Ginnie Mae MBS issuance in the month,” said Ginnie Mae Executive Vice President and Chief Operating Officer Eric Blankenstein. “Mortgage lenders across America are finding the Ginnie Mae program to be the reliable and flexible source of capital they need to help make housing affordable for hundreds of thousands of families each month.”
 
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.
Ginnie Mae I MBS are modified pass-through mortgage-backed securities for 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.
8/10/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled an agency record of $70.04 billion in July, providing financing for more than 261,000 homeowners and renters.

A breakdown of July issuance includes $66.16 billion of Ginnie Mae II MBS and $3.88 billion of Ginnie Mae I MBS, which includes $3.69 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.118 trillion is an increase from $2.080 trillion in July 2019.

“As mortgage rates reached new all-time lows in July, and consumers moved to purchase new homes or refinance existing mortgages, Ginnie Mae was there to help them,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “The record-breaking MBS volume that we saw in July is measured in dollars, but it also is measured by the many households who were for the first time able to take hold of the American Dream of homeownership.”

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.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities for 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.

7/16/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced via All Participants Memorandum 20-10 (APM 20-10) that it has begun to implement the policy, technology, and operational capabilities necessary to accept electronic promissory notes and other digitized loan files as collateral for Ginnie Mae securities (Digital Collateral). As part of this initial phase, Issuers may apply to participate as eIssuers and begin securitizing government-backed mortgages comprised of Digital Collateral with Ginnie Mae approval.

Interested Issuers and Document Custodians may submit their applications individually or jointly. All applications to participate in this phase of the Digital Collateral Program must be submitted to Ginnie Mae via email at DCPA@hud.gov no later than August 15, 2020.

“This announcement is a major step for Ginnie Mae following two years of collaboration with industry stakeholders to develop the right set of policies that will lead to successful implementation of Digital Collateral in the government-backed industry segment,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “Moreover, this is an important milestone that was recommended in the HUD  "Housing Finance Reform Plan

Ginnie Mae will begin reviewing applications on a rolling basis beginning on July 20, 2020. If approved, eIssuers and their eCustodian will need to complete a series of test eNote transactions with Ginnie Mae. Upon successful completion of the test transactions, Ginnie Mae will grant written eMortgage Issuance Authority, which will govern and limit the number of eMortgages (regardless of the principal balance associated with each loan) that may be securitized by that eIssuer during the initial phase of the Digital Collateral Program. There will be no costs associated with the provision of eMortgage Issuance Authority.

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.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities for 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.

7/10/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $61.33 billion in June, providing financing for more than 231,000 homeowners and renters.

A breakdown of June issuance includes $58.22 billion of Ginnie Mae II MBS and $3.11 billion of Ginnie Mae I MBS, which includes $2.87 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.130 trillion is an increase from $2.076 trillion in June 2019.

“In June, Ginnie Mae continued to be the housing finance source that homeowners and renters rely on, helping more than 231,000 families secure safe and affordable housing,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “MBS issuance in June exceeded $60 billion for the third consecutive month. Ginnie Mae’s report today illustrates that our program has the capacity and flexibility to align the capital needs of Issuers originating mortgages with investors around the world seeking high-quality assets, while minimizing risks to taxpayers.”

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.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities for 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.

6/29/2020

WASHINGTON, D.C. – Ginnie Mae announced today in All Participants Memorandum 20-07 (APM 20-07) that effective immediately implements pooling eligibility restrictions on re-performing mortgage loans that were bought out of Ginnie Mae pools. This temporary action continues to provide for buyout transactions that are appropriate and necessary, while maintaining market confidence in Ginnie Mae securities. For more information on the policy change, please see APM20-07 and Ginnie in Brief.

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.

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.

6/8/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $63.44 billion in May, providing financing for more than 235,000 homeowners and renters.

A breakdown of May issuance includes $60.51 billion of Ginnie Mae II MBS and $2.94 billion of Ginnie Mae I MBS, which includes $2.77 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.152 trillion is an increase from $2.068 trillion in May 2019.

“Ginnie Mae MBS issuance in May of more than $63 billion financed housing for more than 235,000 families,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “The national economy relies on a strong housing finance system and we at Ginnie Mae are unwavering in our mission to ensure that money flows safely and consistently to communities across the United States while minimizing risks to taxpayers.”

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.

Ginnie Mae I MBS are modified pass-through mortgage-backed securities for 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.

5/8/2020

WASHINGTON, D.C. – Today, Ginnie Mae announced that issuance of its mortgage-backed securities (MBS) totaled $63.81 billion in April – an all-time record, providing financing for more than 246,000 homeowners and renters.

A breakdown of April issuance includes $61.04 billion of Ginnie Mae II MBS and $2.78 billion of Ginnie Mae I MBS, which includes $2.48 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.149 trillion is an increase from $2.062 trillion in April 2019.

“The Ginnie Mae MBS program produced nearly $64 billion in securities last month that financed housing for more than 246,000 families, illustrating the commitment of our staff and the flexibility of our program,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “Housing finance is a key component of the nation’s economic well-being and Ginnie Mae is steadfast in our mission to ensure that money flows safely and consistently to communities across the United States, while minimizing risks to taxpayers.”

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.

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.

5/4/2020

Today, Ginnie Mae issued All Participants Memorandum 20-05 (APM 20-05), which announces the expansion of its Issuer assistance programs in response to the National Emergency declared by the by the President on March 13, 2020, in connection with the COVID-19 National Emergency.

APM 20-05 introduces a new version of the existing Pass-Through Assistance Program (PTAP) for use by Multifamily Mortgage-backed Securities (MF MBS) Issuers facing a temporary liquidity shortfall directly attributable to the COVID-19 National Emergency. The application of PTAP to the COVID-19 National Emergency (PTAP/C19) allows MF MBS Issuers to apply for assistance in meeting their contractual obligation to make timely and in full principal and interest payments due MF MBS holders without being held in default under the Ginnie Mae Guaranty Agreement. This assistance is intended to minimize disruptions in the mortgage servicing and MF MBS capital markets as borrower forbearance and loss mitigation programs are implemented to help provide relief to renters affected by the COVID-19 National Emergency, including the relief provisions outlined in the CARES Act.

Funds advanced by Ginnie Mae will bear a fixed rate of interest. The rate that will apply to a given month’s pass-through assistance to all Issuers will be posted on Ginnie Mae’s website on the second business day of each month.

“This is an extraordinary and last resort option for Multifamily MBS Issuers in these unprecedented times, that will enable them to continue to operate and maintain safe and affordable housing for millions of renters in America who rely on the government mortgage programs financed by Ginnie Mae,” said Ginnie Mae Principal Executive Vice President Seth Appleton. “As important, this program underscores Ginnie Mae’s commitment to ensure timely payment of all scheduled principal and interest to investors holding our Multifamily MBS, regardless of market conditions.”

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 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.

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.

 

###

5/1/2020

Washington, DC – Ginnie Mae today published the first set of data related to its expanded Pass-Through Assistance Program (PTAP/C19), developed in response to the COVID-19 National Emergency.

PTAP/C19 allows Issuers to apply for assistance in meeting their contractual obligation to make timely and in full principal and interest payments due Mortgage-Backed Security (MBS) holders without being held in default under the Ginnie Mae Guaranty Agreement.

The first set of PTAP/C19 program data is listed below and is available on the Ginnie Mae website. Information on the PTAP/C19 will be updated periodically each month. Ginnie Mae encourages analysts and others interested in the information to subscribe to the page in order to receive the latest information.

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 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.

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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