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10/15/2019

​Washington, D.C. – Ginnie Mae will host a conference call on Wednesday, October 16, 2019 at 5:00 p.m. EST to update the mortgage finance and investor communities regarding the recent leadership transition at the agency. 

The conference call can be accessed by dialing the following numbers below. Please dial in 10 minutes prior to the start of the call. The number of lines is limited and available on a first-come, first-served basis.

Domestic Participant Dial-In: (800) 230-1059

International Participant Dial-In: (612) 288-0329

Confirmation Number: 473234

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 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.

10/15/2019

WASHINGTON, D.C. – Ginnie Mae announced today that investors purchased a record $32 billion of Platinum Securities spread across 217 pools in the fiscal year that ended September 30. Platinum Securities volume in fiscal year 2018 was approximately $20 billion.

Ginnie Mae Platinum Securities are issued through the Ginnie Mae Multiclass Securities Program and provide investors of mortgage-backed securities (MBS) with greater market and operating efficiencies. Investors who hold multiple pools of MBS can combine new or existing MBS into a single Ginnie Mae Platinum Certificate. Once a Ginnie Mae Platinum Certificate has been created, it can be used efficiently in structured finance transactions, repurchase transactions and general trading.

The record volume caps a strong year for the Ginnie Mae Platinum program. In April, Ginnie Mae introduced a Platinum product for Home Equity Conversion Mortgages (HECMs). The new Platinum product, known as HMBS, was the latest evolution in the modernization of Ginnie Mae’s Platinum Securities Program, which has been adding investor-focused functionality since 2017. Today, investors can create Platinum products using fixed-rate MBS (15- and 30-year mortgages); Weighted Average Coupon (WAC) Adjustable Rate Mortgage (ARM) and Jumbo Only Fixed mortgages.

The market adoption of the modernized process for Platinum products has been strong: prior to modernization, fiscal year 2017 production of Platinum securities with fixed-rate collateral was only $7.88 billion. Following modernization and automation inside the new MyGinnieMae portal, volume grew to more than $20 billion in fiscal year 2018.

“The results this year clearly demonstrate that our Platinum program modernization efforts are aligned with the needs of investors,” said John Daugherty, SVP, Office of Securities Operations. “Making it simpler for investors to manage their portfolio of Ginnie Mae securities, while enhancing the liquidity of their Ginnie Mae investments, supports our mission to foster a strong secondary mortgage market for government mortgage loans. We’re helping borrowers across the U.S. obtain the lowest mortgage rates an efficient market can offer.”

Modernization of Ginnie Mae’s technology and business processes is a key feature of the agency’s strategic plan. More of Ginnie Mae’s operational and technology modernization goals can be found in the progress update of the Ginnie Mae 2020 paper.

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 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.

10/11/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $53.517 billion in September, providing financing for more than 207,000 homeowners and renters.

A breakdown of September issuance includes $51.493 billion of Ginnie Mae II MBS and $2.024 billion of Ginnie Mae I MBS, which includes $1.593 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.093 trillion is an increase from $2.008 trillion in September 2018.

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 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.

10/11/2019
WASHINGTON - The U.S. Department of Housing and Urban Development (HUD) and the Government National Mortgage Association (Ginnie Mae) today announced Executive Vice President and Chief Operations Officer Maren Kasper will be stepping down on October 18 to pursue an opportunity in the private sector.

"I want to thank Maren for her significant contributions to both Ginnie Mae and the Department which have helped enable more Americans to become homeowners,” said Secretary Carson. "She has done a tremendous job stepping in to lead Ginnie Mae and its talented team. We all wish her well and know the future for her is bright.”

“It’s been an honor and a privilege to serve you and this Administration since joining the Department on January 20, 2017. I am proud of all that we have accomplished over the last three years. Our efforts under the Ginnie Mae 2020 strategic plan have protected taxpayers, continued to evolve the Ginnie Mae platform for the future, and improved the performance of the Ginnie Mae security, all to the benefit of American homeowners,” said Maren Kasper in her resignation letter to Housing and Urban Development Secretary Ben Carson.

In the interim, Seth D. Appleton, Assistant Secretary for Policy Development and Research, will concurrently serve as Principal Executive Vice President. Appleton joined HUD in July 2017. Additionally, Michael Drayne will assume the role of acting Executive Vice President. Currently, Drayne is Senior Vice President for Strategic Planning and Policy. Drayne joined Ginnie Mae in March 2011.

Ginnie Mae leadership will host a conference call for global investors and stakeholders next week to discuss this leadership transition. Additional details to follow.

Background

Ginnie Mae’s mission is to bring global capital into the housing finance market — a system that runs through the heart of our nation's economy — while minimizing risk to the taxpayer. For 50 years, Ginnie Mae has worked to make affordable housing a reality for millions of Americans through providing liquidity and stability, serving as the principal financing arm for government loans and ensuring that mortgage lenders have the necessary funds to provide loans to consumers. Ginnie Mae delivers mortgage securitization programs for mortgage lenders and attractive offerings for global investors.

Ginnie Mae developed the nation's first mortgage-backed securities (MBS) in 1970 and is the only federal agency tasked with the administration and oversight of an explicit, paid-for, full-faith-and-credit guaranty on MBS. Even in difficult times, an investment in Ginnie Mae MBS has proven to be one of the safest an investor can make, as evidenced by the demand for these securities from investors worldwide.

###

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.

More information about HUD and its programs is available on the Internet

at www.hud.gov and http://espanol.hud.gov.

You can also connect with HUD on social media and follow Secretary Carson on Twitter and Facebook or sign up for news

alerts on HUD's Email List.

9/12/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $52.478 billion in August, providing financing for more than 207,000 homeowners and renters.

A breakdown of August issuance includes $50.876 billion of Ginnie Mae II MBS and $1.602 billion of Ginnie Mae I MBS, which includes $1.288 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.087 trillion is an increase from $1.995 trillion in August 2018.

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 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.

9/5/2019

Today, Ginnie Mae announced that it has removed the previously announced restriction limiting NewDay USA and Sun West Mortgage Company, Inc. to Ginnie Mae II custom pools for VA single family guaranteed loans. The companies are again eligible to utilize the Ginnie Mae I and Ginnie Mae II multi-Issuer securities programs for such loans effective for September 6, 2019 issuance.

The removal of such a restriction is based on the Issuers having demonstrated to Ginnie Mae’s satisfaction that (a) their prepayment speeds are substantially in-line with those of equivalent multi-Issuer cohorts, and (b) such improved performance is sustainable.

Ginnie Mae also announced that it has restricted United Security Financial Corp. (USF), from including VA single-family guaranteed loan packages or pools in Ginnie Mae I securities or Ginnie II multiple issuer pools. USF's VA single-family guaranteed loan packages or pools will be permitted for inclusion only in Ginnie II custom pools. restriction takes effect on pools or loan packages submitted after September 30, 2019.

USF remains an approved Ginnie Mae Issuer and is authorized to pool FHA and RHS single family insured mortgages in all eligible Ginnie Mae pool types.

These program restrictions are part of Ginnie Mae’s ongoing efforts to enforce Chapter 3 Part 21 Section B of Ginnie Mae’s MBS Guide, which establishes as a required program risk parameter that an issuer’s “origination and servicing practices…ensure that the performance of an Issuer’s securities is in line with that of similarly constituted securities for the Ginnie Mae portfolio as a whole.”

Issuers with questions 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 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

9/5/2019

THE DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT SUBMITS HOUSING REFORM PLAN TO THE PRESIDENT

WASHINGTON – Today, the Department of Housing and Urban Development (HUD) presented President Donald Trump with a plan for reforming the Nation’s housing finance system. Read HUD’s housing finance reform plan.

On March 27, 2019, President Trump issued a Memorandum on Federal Housing Finance Reform, directing HUD and the Department of Treasury to craft the housing finance reform plans released today. HUD plays a critical role in the Nation’s housing finance system, primarily through the Federal Housing Administration (FHA). FHA currently insures 8.1 million single-family forward mortgages, nearly 500,000 reverse mortgages, and 15,500 multifamily and healthcare properties. In addition, the Government National Mortgage Association (Ginnie Mae) guarantees more than $2 trillion in mortgage-backed securities.

“As a direct result of the Trump Administration’s pro-growth policies, unemployment is at 50-year low and American families are earning higher incomes and enjoying more opportunities than seemed possible just a few years ago,” said Secretary Ben Carson. “There is still one piece of unfinished business from the financial crisis: housing finance reform. These changes to our housing finance system will help more American families achieve their dream of owning a home.”

The reform plan presented today ensures FHA and Ginnie Mae can continue to serve their important missions effectively, responsibly, and sustainably for many years to come. HUD’s reform plan accomplishes four objectives:

(1) Refocuses FHA to its core mission;

(2) Protects American taxpayers;

(3) Provides FHA and Ginnie Mae the tools to appropriately manage risk; and

(4) Provides liquidity to the housing finance system.

“FHA and Ginnie Mae should focus on helping families and individuals in their respective programs become sustainable homeowners while minimizing risk to the taxpayer to the greatest extent possible,” said Brian Montgomery, FHA Commissioner and Assistant Secretary of Housing.

U.S. Treasury Secretary Steven Mnuchin also presented President Trump with a complementary housing finance reform plan today. Read Treasury’s housing finance reform plan.

###

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov. You can also connect with HUD on social media or sign up for news alerts on HUD's Email List.

You can follow Secretary Carson on Twitter, Facebook and Instagram.

8/12/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $47.188 billion in July, the highest since December 2016.

A breakdown of July issuance includes $45.351 billion of Ginnie Mae II MBS and $1.837 billion of Ginnie Mae I MBS, which includes $1.310 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.08 trillion is an increase from $1.982 trillion in July 2018.

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 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.

8/1/2019
 
WASHINGTON, D.C. - Today, Ginnie Mae issued All Participants Memorandum 19-05 (APM 19-05), which announces the implementation of changes to pooling eligibility requirements for Department of Veteran's Affairs (VA) -insured or -guaranteed mortgages. This APM revises the pooling eligibility requirements applicable to all VA-guaranteed refinance loans and establishes new pooling criteria for certain cash-out refinances with loan-to-value ratios exceeding 90%, as outlined in the agency's previously published Request for Information. Effective with mortgage-backed securities guaranteed on or after November 1, 2019, High LTV VA Cash-Out Refinance Loans (those with LTV ratios above 90%) are ineligible for Ginnie Mae I Single Issuer Pools and Ginnie Mae II Multiple Issuer Pools. The exception is in cases when the loans are Permanent Financing Construction Loans, as defined in Chapter 24 of the MBS Guide. 

 
High LTV VA Cash-Out Refinances may be pooled into Ginnie Mae II Custom Pools without restriction, provided they satisfy the seasoning and number of payment requirements detailed in Chapter 24, Part 2 § (A)(3)(d). 

 
The new policy moves Ginnie Mae's MBS pooling eligibility requirements closer to that of Fannie Mae, Freddie Mac and the Federal Housing Administration (FHA). It also continues to provide veterans who use their earned benefit access to the government-guaranteed MBS market. Furthermore, it provides global investors with increased certainty in the performance of the Ginnie Mae security, which ultimately lowers mortgage rates for all borrowers served by the program. 

 
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 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.
7/23/2019

WASHINGTON, D.C. – Today, Ginnie Mae published a Request for Input (RFI) on the analytical framework it is developing to assess Issuer financial performance under a variety of economic environments. This RFI is part of the agency’s continuing efforts to monitor and support the sustainability of the Ginnie Mae mortgage-backed securities (MBS) market. As outlined in the Ginnie Mae 2020 progress report, the development of this analytical framework and the publication of the RFI aligns with additional policy steps the agency has undertaken to ensure the strength and liquidity of Ginnie Mae’s counterparties.

“Ginnie Mae continues to evolve its counterparty risk management framework, which is essential to delivering our mission of facilitating homeownership in America while also protecting American taxpayers,” said Ginnie Mae Acting President Maren Kasper. “The RFI enables the agency to incorporate the views of a wide variety of stakeholders as we continue to refine the model, implement policy and evaluate potential risks to the U.S. housing finance system.”

The RFI provides background information and analysis for consideration. All responses to the RFI are to be submitted to Ginnie Mae at gnma.rfi.submission@hud.gov no later than 3:00 PM Eastern Time on August 31, 2019. The RFI may be viewed 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 mortgage-backed securities (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.

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