| 4/17/2024 | | WASHINGTON, D.C.—Today, in All Participants Memorandum (APM) 24-06, Ginnie Mae announced revisions to its monthly single-family reporting requirements to include expanded Payment Default Status (PDS) reporting. The expanded PDS dataset will include loan default information, any mitigation actions taken, and the timing of those actions.
Including PDS data in single-family reporting provides essential metrics for enhanced default status monitoring for mortgage-backed securities (MBS) collateral, enabling Ginnie Mae to better understand Servicer liquidity stress and loss mitigation outcomes and improve sampling methodologies. PDS will support Ginnie Mae’s modernization of its operational capabilities.
“The PDS revision is an important component toward our ongoing transition to granular loan-level data collection and analysis,” said Ginnie Mae Principal Executive Vice President Sam Valverde. “These data will allow us to better evaluate the liquidity strains in the market and inform our understanding of risk management and oversight activities.”
PDS submissions will be required beginning December 1, 2024, for December reporting of November data and pertain to single-family data only. Testing will begin in the second calendar quarter of 2024. Detailed information regarding testing and implementation schedules, testing procedures, and training materials can be found on the Modernization Initiatives page on Ginnie Mae’s website at: https://www.ginniemae.gov/issuers/issuer_training/Pages/modernization.aspx
For more information regarding the transition to the new reporting requirements, see APM 24-06.
If you have any questions regarding the policy changes in this announcement, please contact your account executive in the Office of Issuer and Portfolio Management or email askGinnieMae@hud.gov.
Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X(formerly 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.
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| 4/9/2024 | | WASHINGTON, D.C.—Today, Ginnie Mae announced an additional expansion of its LMI disclosure initiative to include pool-level data for its HECM HMBS program. Ginnie Mae’s new HMBS LMI disclosures cover active loans pooled from 2012 through the present time. This expansion continues Ginnie Mae’s work to enhance its securities disclosures, which began 3 years ago. Over the last year, Ginnie Mae made a number of advancements with respect to its securities program, including producing security-level LMI disclosures across the Single-Family program (see here and here), and publishing the Ginnie Mae Social Impact and Sustainability Framework and updating its prospectus. These disclosures are an integral part of Ginnie Mae’s response to increased investor interest in greater transparency into Ginnie Mae mortgages in pools, with a particular focus on meeting environmental, social, and governance (ESG) investment mandates. “As interest in social impact investments continues to grow, Ginnie Mae is finding ways to provide more data on the underlying loans in our securities to help investors make better-informed decisions,” said Ginnie Mae Principal Executive Vice President Sam Valverde. “The disclosures being released today reflect the unique impact of our HMBS program in helping to drive retirement security for lower-income households.” The new disclosure data will be published on the sixth business day of every month for the prior month’s issuances and made available in the Disclosure Data Download section of the Ginnie Mae website. Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X(formerly 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 U.S. Government.
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| 4/5/2024 | | Washington, D.C.—Ginnie Mae's mortgage-backed securities (MBS) portfolio outstanding grew to $2.56 trillion in March, including $32.4 billion of total MBS issuance, leading to $12.5 billion of net growth. March's new MBS issuance supports the financing of more than 101,000 households, including more than 45,000 first-time homebuyers. Approximately 68 percent of the March MBS issuance reflects new mortgages that support home purchases because refinance activity remained low due to higher interest rates. The March issuance includes $31.5 billion of Ginnie Mae II MBS and $883 million of Ginnie Mae I MBS, including $793 million in loans for multifamily housing. For the 2024 calendar year to date, Ginnie Mae has supported the pooling and securitization of more than 137,000 first-time homebuyer loans. For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate mortgage investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae
Disclosure. Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X(formerly 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 U.S. Government.
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| 3/26/2024 | | WASHINGTON, D.C.—Today, in All Participants Memorandum (APM) 24-04, Ginnie Mae announced the transition from the Independent Public Accounting (IPA) module in the Ginnie Mae Enterprise Portal (GMEP) to the new Ginnie Mae Central (GMC) in MyGinnieMae. GMC will help further modernize elements of the Mortgage-Backed Securities (MBS) Program to create a more efficient statement submission process for Issuers.
Effective with Issuer submissions after May 13, 2024, Issuers will no longer submit documentation to Ginnie Mae’s Financial Reports Review Agent and instead be required to use GMC when submitting proof of their fidelity bond (protection against fraudulent, dishonest or negligent acts by the Issuer’s office, employees or others authorized to act on the Issuers behalf) and errors and omissions (E&O) insurance (protection for the Issuer against negligence or mistakes made in the performance of normal duties). Additionally, as of the above date, all extension requests must be submitted through GMC.
The APM also outlines new Issuer requirements for the submission of fidelity bond and E&O insurance, as well as audited financial statements. These requirements include the types of documentation required, submission deadlines, and certification and approval guidelines. For more information regarding the transition to the Ginnie Mae Central Portal and the new submission requirements, see APM 24-04.
“Implementing Ginnie Mae Central marks an important transformation for our MBS program and represents a milestone in our on-going modernization effort,” said Ginnie Mae Principal Executive Vice President Sam Valverde. “Ginnie Mae Central will simplify submissions for our Issuers and employ easy-to-use technology to make our program more approachable and more direct.”
If you have any questions regarding the policy changes in this announcement, please contact your Account Executive in the Office of Issuer and Portfolio Management. If you have any technical questions regarding accessing GMC and/or user manuals, please email askGinnieMae@hud.gov.
Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly 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.
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| 3/19/2024 | | WASHINGTON, D.C. - El jueves 14 de marzo de 2024, Ginnie Mae organizó su mesa redonda inaugural de inversionistas de EE.UU. y América Latina en la sede del Departamento de Vivienda y Desarrollo Urbano en Washington, D.C. Con el apoyo del Banco Interamericano de Desarrollo (BID, Inter-American Development Bank, IDB), el evento reunió a más de 150 participantes presenciales y virtuales de toda América Latina y el Caribe para debatir sobre "Financiamiento de la vivienda en un marco de impacto social y sostenibilidad".
La convocatoria se basa en la intención de la Administración Biden-Harris de considerar a la región como un verdadero socio, tal y como el presidente comunicó durante su discurso inaugural en la Cumbre de las Américas de Los Ángeles y con el trabajo iniciado en la Cumbre de Líderes de Washington con el desarrollo de la Alianza de las Américas para la Prosperidad Económica (Americas Partnership for Economic Prosperity, APEP).
El programa, de un día de duración, reunió a altos funcionarios gubernamentales y líderes de la industria de México, Brasil, Perú, Colombia, Guatemala, Chile, Panamá, El Salvador, República Dominicana, Trinidad y Tobago, Corea y Japón en mesas redondas centradas en:
• Ampliación de la disponibilidad de financiación de la vivienda mediante el uso de préstamos de cartera o financiación de los mercados de capitales.
• El papel del Gobierno en el fomento de los préstamos sociales y sostenibles.
• Innovación en el financiamiento de viviendas.
• Vivienda sostenible y riesgo climático.
En los amplios debates se identificaron retos y oportunidades comunes en toda la región, al tiempo que se reafirmaron los compromisos de buenas prácticas e intercambio de conocimientos en la búsqueda colectiva de soluciones para una vivienda más asequible y respetuosa con el medio ambiente y de opciones de financiación de la vivienda.
"El trabajo de Ginnie Mae es fundamental para ampliar el acceso a la financiación de la vivienda en Estados Unidos y en todo el mundo", ha declarado Marcia L. Fudge, Secretaria del Departamento de Vivienda y Desarrollo Urbano (Department of Housing and Urban Development, HUD). "Esta mesa redonda reunió a una asamblea histórica de líderes mundiales para abordar los mayores problemas de la vivienda, incluidos los préstamos sociales y sostenibles, y la innovación en la financiación de la vivienda."
“La asequibilidad de la vivienda y el desarrollo comunitario son una parte fundamental de las numerosas prioridades políticas y económicas que compartimos en todo el continente americano", afirmó Alanna McCargo, Presidenta de Ginnie Mae. "Nuestra colaboración con el Banco Interamericano de Desarrollo y las organizaciones que participaron en la Mesa Redonda es el inicio de un trabajo colectivo para buscar vías que aumenten la oferta de vivienda asequible y ayuden a más hogares a acceder a oportunidades seguras y asequibles de alquiler y propiedad de la vivienda."
Las grabaciones de las sesiones estarán disponibles en el sitio web de Ginnie Mae en las próximas semanas.
Encontrará más información sobre Ginnie Mae en www.ginniemae.gov y en X (antes Twitter), YouTube, Facebook, y LinkedIn.
Acerca de Ginnie Mae
Ginnie Mae es una corporación gubernamental de propiedad exclusiva que atrae capital mundial al sistema de financiación de la vivienda para apoyar la compra de vivienda por parte de veteranos y millones de propietarios de todo el país. Los programas MBS (Mortgage-Backed Security [garantía respaldada por hipotecas]) de Ginnie Mae apoyan directamente los programas de financiación de viviendas administrados por la Administración Federal de la Vivienda, el Departamento de Asuntos de Veteranos, la Oficina de Vivienda Pública e Indígena del Departamento de Vivienda y Desarrollo Urbano y el Servicio de Vivienda Rural del Departamento de Agricultura. Ginnie Mae es el único MBS que goza explícitamente de la plena fe y el crédito del Gobierno de los Estados Unidos.
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| 3/18/2024 | | WASHINGTON, D.C.—On Thursday, March 14, 2024, Ginnie Mae hosted its inaugural U.S.-Latin America Investor Roundtable at the U.S. Department of Housing and Urban Development headquarters in Washington, D.C. With support from the Inter-American Development Bank (IDB), the event brought together more than 150 in-person and virtual participants from throughout Latin America and the Caribbean to discuss housing finance in a social impact and sustainability framework.
The daylong program drew senior government officials and industry leaders from Mexico, Brazil, Peru, Colombia, Guatemala, Chile, Panama, El Salvador, Dominican Republic, Trinidad and Tobago, Korea, and Japan together for panel discussions focused on— - The expansion of housing finance availability through the use of portfolio lending or capital markets funding.
- A government’s role in promoting social and sustainable lending.
- Innovation in housing finance.
- Sustainable housing and climate risk.
The wide-ranging discussions identified shared challenges and opportunities across the region while reaffirming commitments to best practices and knowledge-sharing in the collective pursuit of solutions for more affordable and environmentally friendly housing and housing finance options.
“Ginnie Mae’s work is instrumental to efforts to expand access to housing finance in the United States and around the world,” said HUD Secretary Marcia L. Fudge. “This roundtable brought a historic assembly of global leaders together to tackle the biggest issues in housing, including social and sustainable lending, and innovation in housing finance.”
“Housing affordability and community development is a central part of the many policy and economic priorities we share across the Americas,” said Ginnie Mae President Alanna McCargo. “Our collaboration with the Inter-American Development Bank and the organizations that participated in the roundtable is a start of collective work to pursue avenues to increase the affordable housing supply and help more households access safe and affordable rental and homeownership opportunities.”
“Despite differences in the structure of our housing finance systems, we all face similar challenges, such as natural disasters, affordability, and reaching underserved populations,” said Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon. “Sharing ideas and approaches is a way to highlight successful innovations and to enrich all our programs, underscoring the importance of our role as a global partner.”
Recordings of the sessions will be made available on the Ginnie Mae website in the coming weeks.
Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X (formerly known as 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. |
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| 3/11/2024 | |
For the last three years, Secretary Marcia L. Fudge has led the Department of Housing and Urban Development fearlessly and passionately as our 18th Secretary. It has been a great honor to serve under her leadership for her entire tenure, first as her Senior Advisor for Housing Finance, and since 2021, as the President of the Government National Mortgage Association (Ginnie Mae). Secretary Fudge has made history and changed the trajectory of HUD for the future.
During her time leading HUD, Secretary Fudge has been a fierce advocate and bold voice for affordable, fair housing for every American, and has championed efforts to right past wrongs and ensure that historically underserved communities have access to housing and the opportunity to achieve the American Dream. During my time in the Secretary’s office, she pioneered historic initiatives, has challenged me and the entire team to think big and be bold for the good of the people and this country, enabling groundbreaking work across government to address critical issues related to housing equity, fair housing, and fair lending. Secretary Fudge has been relentless in her support of Ginnie Mae and fully understands the crucial housing finance role the agency plays in serving low- and moderate-income households, first-time homebuyers, veterans, seniors, and tribal and rural communities. Under her tenure, not only has our portfolio reached historic highs of over $2.54 trillion in outstanding Mortgage-Backed Securities (MBS), but in fiscal year 2024, Ginnie Mae has been appropriated the highest annual budget increase in its history. Those resources will go a long way in strengthening our program and the secondary market, further empowering Ginnie Mae’s critical role within HUD as a multiplying force for government mortgage programs.
Secretary Fudge departs the Biden-Harris administration with a long, successful career as a public servant, and her legacy will have a lasting effect for HUD, Ginnie Mae, and the institutions and Americans we serve. On behalf of Ginnie Mae, I express my deepest gratitude to Secretary Fudge for her passion, visionary leadership, and above all her friendship and kindness. Madam Secretary, your legacy and impact will be enduring. We wish you well in your next chapter and thank you for your remarkable service to our country.
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| 3/9/2024 | | I am heartened that the FY24 funding bill provides an additional $550 billion in commitment authority for our guaranteed loan program and supports Ginnie Mae’s salaries and expense (S&E) budget at $54 million, a 34 percent increase year-over-year (YoY), representing the largest annual amount and YoY dollar amount increase in our corporation’s 55-year history.
The funding levels enacted in this budget represent the fundamental value of Ginnie Mae’s crucial work within the Department of Housing and Urban Development to further our housing finance mission and to support affordable housing finance and attract capital to the U.S. Housing market from across the globe.
A full year funding bill is critical to our ability to plan long-term and sustain the portfolio growth Ginnie Mae has experienced over the past decade. This funding will provide Ginnie Mae with the human resources needed to effectively carry out our housing finance mission and execute on our full faith and credit guaranty for global investors and with our national issuer base. The FY24 funding will also ensure Ginnie Mae can continue to prepare for, mitigate, and respond to emerging risks in the market, including cybersecurity threats to our Issuers, and modernize the securitization program to remain competitive, and be of service to the federal government mortgage market.
Ginnie Mae has been and will continue to be a responsible steward of American taxpayers’ dollars, and provides significant returns for the American public, both as homeowners and renters, and as taxpayers. Each year, Ginnie Mae generates revenue for the federal government, more than offsetting its annual S&E appropriations and overall expenditures several times over. Looking back at FY23, Ginnie Mae contributed roughly $1.5 billion in receipts to the U.S. government, and its Ginnie Mae’s programs supported more than 1.2 million households including veterans, service members, low-to-moderate income borrowers, seniors, and urban, rural, tribal, and underserved communities. Mortgage-backed securities (MBS) issuance topped $404 billion, with Ginnie Mae MBS outstanding reaching an historic high of over $2.5 trillion, representing 35 percent of the total MBS market. These numbers reflect portfolio growth of $188.4 billion, a year-over-year increase of 8.3 percent.
Ginnie Mae’s growth in funding in the FY24 appropriations bill represents progress toward a key goal the Administration has had to right size the agency and is a testament to the hard work, talent, and dedication of the public servants who carry out our mission every day. Ginnie Mae is the engine for government mortgage lending programs, and we are grateful that policymakers recognize and have provided meaningful support to sustain the program.
Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X (formerly 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.
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| 3/7/2024 | |
Washington, D.C.—Ginnie Mae’s mortgage-backed securities (MBS) portfolio outstanding grew to $2.54 trillion in February, including $30.9 billion of total MBS issuance, leading to $11.4 billion of net growth. February’s new MBS issuance supports the financing of more than 96,000 households, including more than 44,000 first-time homebuyers. Approximately 69.8 percent of the February MBS issuance reflects new mortgages that support home purchases. The February issuance includes $30 billion of Ginnie Mae II MBS and nearly $894 million of Ginnie Mae I MBS, including nearly $816 million in loans for multifamily housing. For the 2024 calendar year to date, Ginnie Mae has supported the pooling and securitization of more than 91,000 first-time homebuyer loans. For more information on monthly MBS issuance, Unpaid Principal Balance (UPB), real estate investment conduit (REMIC) monthly issuance, and global market analysis, visit Ginnie Mae
Disclosure. Additional information about Ginnie Mae is available at
www.ginniemae.gov and on
X (formerly known as 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. |
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| 3/4/2024 | | WASHINGTON, D.C. – Today, in All Participants Memorandum (APM) 24-02, Ginnie Mae announced the implementation of new Cybersecurity Incident reporting requirements. These requirements are part of Ginnie Mae’s continued commitment to the security and integrity of all operational systems and critical technology infrastructure related to the issuance and servicing of Ginnie Mae Mortgage-Backed Securities (MBS).
Effective immediately, Issuers must notify Ginnie Mae of a cyber security incident within 48 hours of detection. A Cybersecurity Incident is any unauthorized access to, or use, disclosure, alteration, transfer, or destruction of, confidential information or non-public personal information (NPI) that may impact the Issuer’s ability to meet its obligations under the terms of the Guaranty Agreement. Issuers who subservice for others are required to notify Ginnie Mae whether the incident occurred to their own portfolio, and/or one or more subserviced portfolios.
Once the notification is received, representatives from Ginnie Mae will contact the designated point of contact to obtain additional information and establish the level of engagement needed depending on the scope and nature of the incident.
“These Cybersecurity Incident Reporting requirements are an important part of managing cyber risk that could impact our program,” said Ginnie Mae President Alanna McCargo. “Prompt and clear communication is critical to managing cybersecurity events as they unfold. This new requirement is an important step in further enhancing our cybersecurity framework to meet current and future needs.”
Ginnie Mae’s new Cybersecurity Incident APM is part of its holistic approach to augmenting its cybersecurity protocols, with the intent of further refining its organization-wide information security, business continuity and reporting requirements.
For more information and resources regarding the new Cybersecurity Incident notification requirements, please refer to APM 24-02.
If you have any questions about the policy announced in this APM, please contact your Account Executive directly.
Additional information about Ginnie Mae is available at www.ginniemae.gov and on X (formerly known as 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.
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