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10/3/2022

WASHINGTON, DC—Today, Ginnie Mae issued an All-Participants Memorandum (APM)–22-10 to Single-Family Issuers providing buyout guidance for loans affected by Hurricane Fiona and Hurricane Ian.

Effective immediately, Chapter 34-2 of the Ginnie Mae Mortgage-Backed Securities Guide, HUD Handbook 5500.3 Rev-1 (“MBS Guide”) provides expanded loan buyout authority to support issuers offering relief to borrowers affected by natural disasters, including “relief in the form of late fee waivers, forbearance periods, loan modifications, and foreclosure moratoriums to the extent permissible under the guidelines of the federal agency guaranteeing or insuring each loan.”

“This action facilitates the ability of our issuers to provide relief to borrowers as provided for by the federal agencies that guarantee the loans in Ginnie Mae securities,” said Ginnie Mae President Alanna McCargo. “When disasters hit, we want to be sure there is clarity for issuers that may need to exercise buyouts that enable them to more quickly render assistance to those in need.”

Under the APM guidance, Ginnie Mae will permit issuers to buy out loans that meet the following specific eligibility requirements:

• the property securing the loan must be damaged and be located within a designated disaster area; or

• the borrower must be experiencing economic hardship related to the designated disaster, as established by the underlying federal insuring or guarantying agency.

Issuers must request and obtain prior written approval from Ginnie Mae and are urged to contact their Ginnie Mae account executive with questions. The loan buyout authority extended under this APM will expire on March 31, 2023.

The complete All Participants Memorandum can be found here​.

Information on designated disaster areas can be obtained from the Federal Emergency Management Agency at www.FEMA.gov/disasters.

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.

9/20/2022

WASHINGTON, D.C. – Today, Ginnie Mae published a set of “Frequently Asked Questions” to address the inquiries received during the agency’s one-on-one conversations with the industry since the updated minimum independent mortgage bank (IMB) eligibility requirements were announced in August.

“Since announcing these updated standards, Ginnie Mae has actively engaged with Issuers and stakeholders who have questions," said Ginnie Mae’s President, Alanna McCargo. “We are taking this opportunity to provide additional clarity around our approach. While the overwhelming majority of Ginnie Mae Issuers are compliant with these requirements today, we will continue engaging with our Issuers throughout the implementation period to ensure our program guidelines support a strong and vibrant source of housing finance liquidity.”

Ginnie Mae intends to update these FAQs from time to time as we continue our engagement on these important issues.

The FAQs can be found here.

Additional information about Ginnie Mae is available at www.ginniemae.gov, on Twitter , YouTube, Facebook and LinkedIn.

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.

9/12/2022

WASHINGTON, D.C. – Ginnie Mae’s mortgage-backed securities portfolio outstanding grew for the 14th consecutive month in August, hitting $2.269 trillion, up from $2.248 trillion in July and $2.119 trillion last year. This growth was fueled by steady new issuance of Ginnie Mae MBS as homeowners found value in the government-backed mortgage market. New MBS issuance for August was $43.1 billion, supporting the financing of more than 146,000 homeowners and renters.

The August issuance includes $41.3 billion of Ginnie Mae II MBS and $1.73 billion of Ginnie Mae I MBS, including approximately $1.62 billion of loans for multifamily housing.

“The current housing market continues to present serious affordability challenges for many households. The lack of affordable supply is exacerbated by markedly higher interest rates from a year ago,” said Ginnie Mae President Alanna McCargo. “The growth in our MBS portfolio, however, shows continued participation in government-backed mortgage programs that provide access to credit for households that need lower down payments and affordable financing.”

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.

8/24/2022

WASHINGTON, D.C. – Ginnie Mae’s outstanding mortgage-backed securities portfolio grew for the 13th consecutive month in July, hitting $2.252 trillion, up from $2.229 trillion in June and $2.117 trillion one year ago. Growth in the portfolio was fueled by steady new issuance of Ginnie Mae MBS as homeowners found value in the government-backed mortgage market. New MBS issuance for July was $45.5 billion, supporting the financing of more than 155,000 single-family homes and rental units.

The July issuance includes $43 billion of Ginnie Mae II MBS and $2.01 billion of Ginnie Mae I MBS, which includes approximately $1.85 billion of loans for multifamily housing.

“As Ginnie Mae celebrates 54 years of being a consistent source of low-cost mortgage liquidity, we continue to see steady growth in our portfolio even in a changing and very dynamic housing market,” said Ginnie Mae Executive Vice President Sam Valverde.

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 Disclosure

8/17/2022

WASHINGTON, D.C. – Today, the Federal Housing Finance Agency (FHFA) and Government National Mortgage Association (Ginnie Mae) issued a joint announcement of their updated minimum financial eligibility requirements for seller/servicers and issuers. Prompted by the changing nature of the U.S. housing finance system, these enhanced eligibility requirements reflect Ginnie Mae’s and FHFA’s shared goals to promote confidence in approved issuers and seller/servicers and improve the safety and soundness of the U.S. mortgage-backed securities (MBS) ecosystem through all economic cycles.

U.S. Department of Housing and Urban Development (HUD) Secretary Marcia L. Fudge applauded Ginnie Mae and FHFA leadership for their diligence in providing continuity for the mortgage industry while strengthening the MBS system that supports affordable housing for all Americans. “The robust collaboration of Ginnie Mae President Alanna McCargo and FHFA Director Sandra Thompson is a testament to their leadership and shared commitment to sustainable access to credit for American families,” said Secretary Fudge. “The action announced today will ensure that we continue to address the needs of underserved communities through easy, equitable and sustained access to mortgage credit.”

“The updated eligibility requirements represent an ongoing commitment to the safety and soundness of Fannie Mae and Freddie Mac by strengthening the capacity of seller/servicers to meet the financial responsibilities associated with doing business with the Enterprises,” said FHFA Director Sandra L. Thompson. “FHFA and Ginnie Mae’s effort to coordinate on financial eligibility requirements provides greater consistency for Enterprise seller/servicers and Ginnie Mae issuers.”

“Ensuring that Ginnie Mae issuers can acquire financing during times of stress is critical to preserving access to credit for those borrowers who depend on Ginnie Mae and our insuring agency partners,” said Ginnie Mae President Alanna McCargo. “These enhanced requirements, the product of our historic collaboration with FHFA, will promote the resilience of our issuers and better enable them to operate throughout economic cycles.”

Since 2020, FHFA and Ginnie Mae have coordinated their analyses, engaged in stakeholder outreach, and held an April 2022 joint listening session to consider feedback on the impact the revised requirements will have on the mortgage industry. To reduce regulatory burden and provide greater consistency and predictability for seller/servicers and issuers, FHFA and Ginnie Mae worked closely to align their respective standards and implementation timelines to the greatest extent possible. The majority of the requirements are effective on September 30, 2023.​

Ginnie Mae Fact Sheet

Ginnie Mae/FHFA Comparison Grid

Ginnie Mae APM 22-09​

About FHFA

The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $7.5 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube, Facebook, and LinkedIn.

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. Additional information is available at www.ginniemae.gov, on Twiter @ginniemaegov, YouTube, Facebook and LinkedIn​.

8/4/2022

WASHINGTON, D.C. – Today, Ginnie Mae is amending its capital requirements for federally insured credit unions and state housing finance agencies (HFAs). Ginnie Mae recognizes that capital requirements imposed by federal prudential regulators strengthen our industry partners and satisfy our need for appropriately capitalized counterparties. Also, by exempting state HFAs from the capital requirements, Ginnie Mae is recognizing that the state sponsorship of these agencies enhances their counterparty standing.

“These changes to our institution-wide capital requirements accomplish two things – they harmonize our program requirements with standards enforced by other federal entities, and they better reflect the unique financial status of state housing agencies,” said Ginnie Mae President Alanna McCargo. “This is important because credit unions and state housing finance agencies play critical roles in supporting community-based lending, particularly in underserved areas.”

APM 22-08​ also addresses how Ginnie Mae’s capital standards consider delinquent loans that are eligible for repurchase but have not yet been bought out of Ginnie Mae MBS pools. Specifically, APM 22-08 explains that Total Assets do not include Ginnie Mae Loans Eligible for Repurchase when calculating an institution’s leverage ratio.

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.

7/27/2022

WASHINGTON, D.C. – Today, Ginnie Mae, in coordination with the Federal Housing Administration (FHA), published a Request for Input (RFI) on enhancements to the Title I Manufactured Home Loan Program. The RFI follows publication earlier this year of the Biden-Harris “Housing Supply Action Plan” and the Department of Housing and Urban Development’s FY 2022-2026 Strategic ​Plan, each of which identifies manufactured housing as an important means of increasing the supply of affordable housing.

The RFI seeks input on how both the FHA Title I manufactured housing program and the Ginnie Mae securitization program that supports it can be made more competitive, and references specific program features such as loan limits or lender eligibility requirements. It also seeks commentary on how proposed changes would improve the financing market for manufactured housing.

"Enhancing the ability of consumers to efficiently and affordably access financing for manufactured homes is critical to increasing production of this important asset class and boosting housing supply,” said Executive Vice President and Chief Operating Officer Sam Valverde.

Responses to the RFI are due September 26, 2022.

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.

7/14/2022

WASHINGTON, D.C. – Ginnie Mae guaranteed more than $46 billion in mortgage-backed securities (MBS) in June, helping support affordable homeownership and rental unit development for more than 164,000 households. June’s issuance brings the Ginnie Mae MBS program balance outstanding to $2.233 trillion.

The June issuance includes $45 billion of Ginnie Mae II MBS and $1.65 billion of Ginnie Mae I MBS, which includes approximately $1.46 billion of loans for multifamily housing.

While new mortgage loan originations were slightly down compared to May, there was a net increase in securitized loan production for the reporting period.

“Homebuyers are facing the toughest housing market conditions we have seen in many years,” said Ginnie Mae President Alanna McCargo. “Although mortgage rates have moderated in recent weeks, the lack of enough housing inventory continues to put pressure on affordability for first time homebuyers and renters.”

“The recent launch of the Department of Housing and Urban Development’s housing supply initiative, Our Way Home, is so critical to boost the nation’s affordable housing supply. The initiative builds on the Biden-Harris Administration’s housing supply Action Plan to address communities' housing supply needs in an equitable, inclusive and sustainable fashion,” said McCargo. “Ginnie Mae is committed ​to partnering with all of our stakeholders to expand the availability of affordable housing finance tools to support households across the country.”

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.

6/29/2022

Washington, D.C. – The Government National Mortgage Association (Ginnie Mae) and the Federal Home Loan Bank of Chicago announced today that total issuance under the Mortgage Partnership Finance® Program (MPF®) recently surpassed $3 billion in mortgage-backed securities (MBS). The MPF Government MBS product resulted from a partnership forged by the Federal Home Loan Bank of Chicago and Ginnie Mae to issue securities guaranteed by Ginnie Mae and backed by mortgages originated by Federal Home Loan Bank member financial institutions. The MPF Government MBS product provides mortgage lenders, particularly smaller institutions, direct access to the secondary mortgage market and more mortgage loan solution options for their valued customers.

Ginnie Mae developed the first mortgage-backed security in 1970, by pooling loans into a security sold in the secondary market.

“The MPF Program is an important partnership for making the Ginnie Mae MBS system accessible to small community banks and lender partners, and this $3 billion milestone demonstrates its value in the marketplace,” said Ginnie Mae President Alanna McCargo. “This program advances our mission and commitment to ensure liquidity for government mortgage products and create more equitable and affordable homeownership opportunities for households across the country.”

Federal Home Loan Banks across the nation offer the MPF Government MBS product to their members.

“As the MPF Program celebrates 25 years of helping community lenders nationwide, achieving this milestone with Ginnie Mae is another testament to our continued strong partnership,” said John Stocchetti, Executive Vice President of the MPF Program. “Our business model provides community lenders access to the secondary market, and our relationship with these lenders gives their communities access to affordable mortgage products.”

The MPF Program’s partnership with Ginnie Mae began in 2014 and continues to provide lenders a channel to the MBS marketplace.

About the MPF Program

The MPF Program allows eligible Federal Home Loan Bank members to sell conventional conforming and government loans to their Federal Home Loan Bank or other investors. To learn more visit fhlbmpf.com. “Mortgage Partnership Finance” and “MPF” are registered trademarks of the Federal Home Loan Bank of Chicago.

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.

6/17/2022

WASHINGTON, D.C. – Ginnie Mae released its latest podcast today, which features current eIssuers discussing their experiences in the Digital Collateral Program, from application through integration and securitization. With more than $8 billion of Ginnie Mae digital collateral MBS in the market, the program is poised to grow even more in 2022 as it opens to new eligible participants starting June 20, 2022.

Ginnie Mae also issued All Participants Memorandum (APM) 22-07 formally opening the Digital Collateral Program to all Ginnie Mae Issuers in good standing who meet the eligibility requirements.

Listen to market insight and analysis from Ginnie Mae Digital Program Director Lynne Chandler and eIssuers active in the program, 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.

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