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1/26/2023

WASHINGTON, D.C. – Ginnie Mae announced, that effective February 1, 2023, it is shortening the re-pooling seasoning requirements for re-performing loans from six months to three months and allowing issuers the option to pool re-performing loans into TBA eligible Ginnie Mae II Multi-Issuer Pools.

“I am pleased that we have been able to deliver early on this policy change, which I announced late last year,” said Ginnie Mae President Alanna McCargo. “Today’s announcement demonstrates Ginnie Mae’s continued commitment to providing programs and options to Issuers that maintain the strength and liquidity of the government mortgage market,”

Effective with pools submitted February 1, 2023, and thereafter, the following changes have been made to re-performing loan securitizations: (1) The borrower has made timely payments for the three (3) months immediately preceding the issuance month associated with the mortgage-backed securities (MBS), and (2) The Issue Date of the MBS is at least 120 days from the last date the loan was delinquent.

Re-performing loans must also meet all other applicable pooling parameters. Since the inception of the C-RG pool-type in February 2021, approximately $39.5 billion of the securities have been issued through year end 2022.

An APM is forthcoming to effectuate these policy changes.

Additional information about Ginnie Mae is available at www.ginniemae.gov, 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.

1/18/2023

WASHINGTON, D.C. – Ginnie Mae announced today, in two All Participants Memoranda (APM), that it is extending certain delinquency reporting exemptions for issuers and permitting the use of alternative audit procedures. Details regarding the extension of these temporary measures related to delinquency thresholds and audit policy can be found in APM 23-01, and APM 23-02 respectively.

“Ginnie Mae is continuously engaged with Issuers to ensure that our policies support operational efficiency and promote working effectively with borrowers on loss mitigation efforts,” said Ginnie Mae Principal Executive Vice President Sam Valverde. “These extended flexibilities are an appropriate response to the lingering effects of the pandemic on Issuer operations.”

APM 23-01 recognizes COVID-19 continues to impact Issuers’ independent auditors’ ability to perform certain on-site document custodian review audit activities, requiring physical inspection and observation. The temporary flexibilities extended in APM 23-01 allow alternative audit procedures for Issuers with a fiscal year ending on or before June 30, 2023.

APM 23-02 extends the delinquency reporting exemptions for six months which is the timeframe provided in previous APMs. Whether additional extensions of the exemptions are warranted will be considered and announced later this year.

Additional information about Ginnie Mae is available at www.ginniemae.gov, 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.

1/13/2023

WASHINGTON, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.280 trillion in December, including $31.14 billion of total MBS issuance for the month of December, leading to $19 billion of net growth and a new record end-of-year balance.

December new MBS issuance supports the financing of more than 107,000 households, including more than 49,000 first-time homebuyers. Approximately 70 percent of the December MBS issuance reflects new mortgages that support home purchases, as refinance activity remained low due to higher mortgage rates.

The December issuance includes $29.45 billion of Ginnie Mae II MBS and $1.69 billion of Ginnie Mae I MBS, including approximately $1.57 billion in loans for multifamily housing.

For the 2022 calendar year, Ginnie Mae supported the pooling and securitization of more than 730,000 first-time homebuyer loans.

For more information on monthly MBS issuance, UPB, REMIC monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.

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

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

12/30/2022

WASHINGTON, D.C. – Today, Ginnie Mae announced that it has updated information related to the eNote clauses within its Digital Collateral Program eGuide via APM 22-15, effective January 1, 2023. This technical update aligns Ginnie Mae’s Digital Collateral Program with Fannie Mae and Freddie Mac by leveraging their updated, uniform eNotes. The revised eNote clauses are clearer and easier for borrowers to understand, while maintaining compliance with the Uniform Electronic Transactions Act and the federal ESIGN Act.

“In an effort to create alignment and efficiency in the digital mortgage transaction, adoption of the GSE standard clauses helps create a more simplified and efficient process for eIssuers, and improves borrower eMortgage experience, a win-win for all,” said Ginnie Mae President Alanna McCargo.

Ginnie Mae reopened its Digital Collateral Program to all eligible Issuers in June of this year and has guaranteed more than $18 billion of Ginnie Mae mortgage-backed securities. The Program makes it easier for borrowers, especially military personnel, to complete the mortgage transaction from anywhere in the world.

More information regarding Ginnie Mae’s Digital Collateral Program can be found here.

Keep in touch with Ginnie Mae via LinkedIn, Twitter, YouTube and Facebook​.

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.

12/28/2022

WASHINGTON, D.C.—Ginnie Mae is committed to supporting all government mortgage programs. The Home Equity Conversion Mortgage (HECM) is the Federal Housing Administration’s (FHA) reverse mortgage program that supports the retirement security of our nation’s senior citizens by allowing them to tap the equity in their homes.

Ginnie Mae supports the broad availability of HECMs through our HECM Mortgage-Backed Securities (HMBS) program. Any HMBS issuance under our program continues to have the full faith and credit guaranty of the United States Government, including the guaranty of timely payments of principal and interest to bondholders.

The recent acquisition of Ginnie Mae HMBS servicing from Reverse Mortgage Funding LLC was accomplished without negatively impacting borrowers. Borrowers received a notification about the transfer of servicing as required by law. The transfer should be seamless for borrowers and does not change or amend borrower payment schedules or rights under their mortgages. Borrowers can expect to continue to receive payments as usual, consistent with the terms of their reverse mortgage.

Ginnie Mae continues to work in coordination with FHA and the entire HECM industry to ensure stability and liquidity for the programs in the future.

Affected borrowers with questions about the status of their mortgage should contact their mortgage servicer or the FHA at 1-800-CALL-FHA (800-225-5342).

Keep in touch with Ginnie Mae via LinkedIn, Twitter, YouTube and Facebook.

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 Security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

12/23/2022

WASHINGTON, D.C.—Today, Ginnie Mae announced new loan limits for 2023 for single-family forward mortgages eligible for pooling in its mortgage-backed securities programs. Loan limits for most of the country will increase in the coming year due to house price appreciation during the first half of 2022, which is factored into the statutorily mandated calculations that determine the limits each year.

Additional details regarding the new loan limits can be found in APM 22-14 here​.

The new mortgage loan limits will be effective after January 1, 2023.

2023 loan limit apm press release best.jpg


Keep in touch with Ginnie Mae via LinkedIn​, Twitter, YouTube ​and Facebook​.

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 Security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

12/22/2022

WASHINGTON, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.325 trillion in November including $36 billion of total MBS issuance for the month of November, leading to $23 billion of net growth.

November new MBS issuance supports the financing of more than 122,000 households, including more than 55,600 first-time homebuyers. Approximately 69 percent of November MBS issuance reflects new mortgages that support home purchases, as refinance activity remained muted due to higher mortgage rates.

The November issuance includes $34.22 billion of Ginnie Mae II MBS and $1.82 billion of Ginnie Mae I MBS, including approximately $1.71 billion in loans for multifamily housing.

“Monthly issuance of Ginnie Mae MBS is returning to historic patterns, consisting of primarily purchase money transactions supporting tens of thousands of households in achieving first time homeownership,” said Executive Vice President and Chief Operating Officer Sam I. Valverde.

For more information on monthly MBS issuance, UPB, REMIC monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.

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

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

12/7/2022

WASHINGTON, D.C.—Today, the Government National Mortgage Association (Ginnie Mae) made public its first comprehensive report on the secondary mortgage market liquidity of mortgages that are U.S. Department of Veterans Affairs (VA) guaranteed and pooled by issuers into Ginnie Mae mortgage-backed securities (MBS).The report is in accordance with an Economic Growth, Regulatory Relief, and Consumer Protection Act of 2018 requirement and was delivered to Congress last month.

“Ginnie Mae and the U.S. Department of Veterans Affairs have built a robust, resilient, and effective program to support homeownership for veterans and active duty servicemembers. The VA liquidity report provides an in-depth look at the health and liquidity of the program over time, which is crucial to ensuring the mortgage benefit that our military has earned is available through all economic cycles,” said Ginnie Mae President Alanna McCargo.

“VA appreciates Ginnie Mae’s (GNMA) efforts to review the liquidity of the VA Home Loan program. VA will continue to work with GNMA to ensure VA home loans remain the product of choice for veterans in meeting their homebuying and refinancing needs,” said John Bell, Executive Director, Loan Guaranty Service, U.S. Department of Veterans Affairs.

The Ginnie Mae MBS program is designed to provide liquidity and stability to support homeownership for veterans and active-duty personnel, particularly first-time homeowners. In Fiscal Year 2022, Ginnie Mae VA-backed MBS-guaranteed mortgages helped more than 204,000 veteran and active-duty households become first-time homebuyers. Today, driven by the program’s success over the years, more than 727,000 first-time homeowners are in the Ginnie Mae portfolio, and the overall VA share of MBS issuance has experienced significant growth.

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

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

11/9/2022

WASHINGTON, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.3 trillion in October, boosted by $37 billion of total MBS issuance, leading to $23 billion of net growth.

October’s new MBS issuance supports the financing of more than 125,000 households, including more than 57,000 first-time homebuyers. Approximately 70 percent of October MBS issuance reflects new mortgages that support home purchases, as refinance activity continued to decline due to higher mortgage rates.

The October issuance includes $36.25 billion of Ginnie Mae II MBS and $1.43 billion of Ginnie Mae I MBS, including approximately $1.32 billion in loans for multifamily housing.

“Ginnie Mae’s role as an essential source of mortgage finance is clearly illustrated by the strong growth in our total portfolio and the large share of MBS supporting first-time homebuyers,” said Ginnie Mae President Alanna McCargo. “The steepest increase in mortgage rates in decades is a headwind for homebuyers, but Ginnie Mae’s guaranty and insuring agency partners are here with products and programs to help consumers achieve their dream of homeownership.”

For more information on monthly MBS issuance, UPB, REMIC monthly issuance, and global market analysis, visit Ginnie Mae Disclosure.

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

About Ginnie Mae

Ginnie Mae is an entirely government-owned 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 security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development’s Office of Public and Indian Housing, and the U.S. Department of Agriculture’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.

10/24/2022

WASHINGTON, D.C. – Ginnie Mae President Alanna McCargo today announced policy changes to strengthen the mortgage sector by increasing issuer liquidity.​

Ginnie Mae is shortening the re-pooling seasoning requirement for re-performing loans from six months to three months and allowing issuers the option to pool re-performing loans into TBA eligible Ginnie Mae II Multi-Issuer Pools. Ginnie Mae will effectuate these policy changes no later than the end of Q1 2023 with a formal policy notice forthcoming.

This change reverses several of the temporary pooling restrictions placed on re-performing loans introduced during the pandemic. See APM 20-07, dated June 29, 2020.

The changes were announced at the Mortgage Bankers Association (MBA) Annual Conference where President McCargo delivered remarks focused on how Ginnie Mae is working with the mortgage industry to facilitate access to affordable mortgage credit for homeowners and renters across credit cycles.

Her remarks touched on the importance of the Independent Mortgage Bank (IMB) sector, as well as Ginnie Mae’s support of the secondary mortgage market in a challenging interest rate environment. Ginnie Mae understands it is in the best interest of economically challenged borrowers, issuers, market-makers, and the investor community to ensure liquidity is reliably available.

President McCargo re-emphasized the one-year extension of the implementation period for its Risk Based Capital (RBC) requirement published in its updated minimum financial requirements for IMBs in APM 22-11​. The RBC requirement itself has not changed. Rather, the extended implementation period provides additional time for the mortgage industry to adapt to the new framework.

“We are working through this cycle together,” said President McCargo. “I am committed to engaging with stakeholders to ensure a strong IMB industry that is able to continue supporting the many households facing significant affordable housing challenges.”

Throughout the speech, President McCargo emphasized the importance of maintaining strong public and private sector partnerships.

Stay in touch with Ginnie Mae on social media: Twitter, LinkedIn, Facebook​

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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