Ginnie Mae representatives joined more than 2,500 commercial and multifamily real estate finance professionals in February at the Mortgage Bankers Association Commercial Real Estate Finance/Multifamily Housing Convention (CREF/MF).
The CREF/MF convention is a key industry event that offers unrivaled access to industry leaders, company CEOs, and expert panelists who discuss the latest industry trends, regulatory developments, and strategies to succeed in today’s dynamic marketplace.
Ginnie Mae Multifamily professionals provided conference attendees with an overview of our Multifamily business, as well as a look at future trends within the industry, that will influence our business in the coming years.
This Ginnie Mae presentation featured key FY2013 highlights such as our record-setting $460 billion in securities issued in 2013, as well as a look at our growing share of the overall market for Multifamily MBS, which now stands at $81.8 billion outstanding. In addition, other key aspects of Ginnie Mae’s Multifamily business were featured including a look at the number of active Multifamily Issuers (57), the quantity of pooled mortgages (11,578), the FY 2013 Issuance ($31.5 billion), and the makeup of Ginnie’s Multifamily portfolio (91% were issued by mortgage companies, 7% by commercial banks, and 2% by Savings and Loans).
Beyond the key financial highlights, the Ginnie Mae team provided keen insight on the paradigm shift that seems to be happening in the Multifamily space in which the focus is shifting from a focus on originations to a more servicing-centric era. The Ginnie Mae team discussed how Ginnie Mae will adapt to this change, through a series of servicing-related initiatives, to enhance the knowledge and operational efficiency of Multifamily MBS program participants. These servicing initiatives include:
1. Software Modernization
2. Issuer Operational Performance Profile
3. Ginnie NET and RFS Training
4. 2014 Education Summit
5. Multifamily FAQs
6. Ginnie Mae Online University
7. Enhanced Issuer Visits
Our effort to improve our servicing framework through these seven action initiatives will bring our Issuers into 2014 and beyond, and will make all our Issuers the best possible servicers of Ginnie Mae securitized loans.
Wrapping up their session, the Ginnie Mae team outlined what a successful year 2013 was, explaining that the Multifamily portfolio grew nearly 15 percent and passed the $80 billion mark for the first time in history. But with this growth, the team reiterated, comes the need to increase focus on becoming more servicing-centric to ensure continued success in the near term.