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4/18/2019

WASHINGTON, D.C. – Ginnie Mae announced today that investors in Ginnie Mae mortgage securities backed by Home Equity Conversion Mortgages (HECMs) can now take advantage of a new Platinum securities execution — the Home Equity Conversion Mortgages Backed Security (HMBS) Platinum securitization channel. The HMBS option eases the administrative costs of holding multiple (and typically smaller) HMBS securities and, in doing so, enhances the liquidity of the overall market for Ginnie Mae HMBS. The new Platinum HMBS option is 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. 
“Today’s announcement is another important step on the path to continually modernize operations at Ginnie Mae to benefit MBS investors and Issuers,” said John Daugherty, SVP, Office of Securities Operations. “Making it simpler for investors to manage their portfolio of Ginnie Mae MBS and HMBS, while enhancing the liquidity of their Ginnie Mae investments, supports our mission to foster a strong secondary mortgage market for government mortgage loans, helping borrowers across the U.S, obtain the lowest mortgage rates an efficient market can offer.”
“Investors in Ginnie Mae MBS are the source of capital for homeownership in America and are essential participants in the success of Ginnie Mae’s mission,” added John Getchis, SVP, Office of Capital Markets. “Platinum HMBS securities give security dealers and institutional investors another choice when deploying their capital, and another way to support the secondary mortgage market.”
 
Modernization of Ginnie Mae’s technology and business processes is a key feature of the agency’ strategic plan. More of Ginnie Mae’s operational and technology modernization goals can be found in the Ginnie Mae 2020 white paper, and will be discussed at the upcoming Ginnie Mae Summit June 13-14.
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.
4/11/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $27.331 billion in March.

A breakdown of February issuance includes $26.452 billion of Ginnie Mae II MBS and $879 million of Ginnie Mae I MBS, which includes $782 million of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.058 trillion is an increase from $1.940 trillion in March 2018.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

4/2/2019

Roy Hormuth, Ginnie Mae’s Director of Single Family Securitization, will be attending and speaking at the Information Management Network’s sixth annual Residential Mortgage Servicing Rights Conference, April 15 and 16, in New York City. The conference will feature speakers such as Marty Young, vice president at Goldman Sachs, and Kevin Brungardt, CEO of RoundPoint Mortgage Servicing Corporation.

On April 15, Hormuth will speak at 2:05 EDT, on the panel “Financing in the MSR Market,” which aims to explore bank vs. non-bank financing, agency vs. non-agency financing and more. Panel members include directors from Freddie Mac and Credit Suisse and other industry leaders.

The Information Management Network’s 2019 Residential Mortgage Servicing Rights Conference brings together members of the mortgage servicing rights industry to explore MSR stress testing, transaction management and more. The day-and-a-half-long event is attended by MSR buyers and investors, accounting firms, private equity funds and other industry participants.

Ginnie Mae has been among the leading industry players encouraging a strong MSR market. On March 7, Ginnie Mae published an All Participants Memorandum setting forth new minimum servicing requirements. The agency’s “Ginnie Mae 2020” white paper, published last June, contributed to the broader discussion of the benefits of greater market liquidity.

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 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’s Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States government.

3/21/2019

Barbara Cooper-Jones will be attending and speaking at the Mortgage Bankers Association’s (MBA) 2019 Technology Solutions Conference and Expo (TECH19). The conference, scheduled for March 24-27 in Dallas, Texas, brings together industry leaders, experts and vendors to discuss recent and upcoming technological advancements in mortgage finance.

On March 26, Cooper-Jones will speak on a panel titled “Special Session: GSE and Ginnie Mae Update,” which will outline changes to Ginnie Mae, Fannie Mae and Freddie Mac programs, including updates to the GSE Uniform Mortgage Data Program. Cooper-Jones will be joined by executives from Fannie Mae and Freddie Mac.

The following day, Cooper-Jones will speak at a breakout session titled “Residential Closing Super Session: Listen Up! Emerging Technologies and Innovations You Should Pay Attention to Over the Next 3-5 Years.” This panel will address evolving technologies meeting the housing finance industry. Cooper-Jones will be joined by leadership from Fannie Mae, MISMO and other industry executives.

TECH19 brings together residential and commercial/multifamily real estate professionals to discuss innovative technologies in the mortgage industry. The event features a day of live product demos as part of its Technology Showcase, as well as general speaking sessions and breakout sessions throughout the weekend. It is attended by technology executives, investors and other industry participants with technology-specific interests.

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.

3/18/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $24.543 billion in February.

A breakdown of February issuance includes $23.224 billion of Ginnie Mae II MBS and $1.319 billion of Ginnie Mae I MBS, which includes $1.160 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.056 trillion is an increase from $1.934 trillion in February 2018.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

2/13/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $29.930 billion in January.

A breakdown of January issuance includes $28.661 billion of Ginnie Mae II MBS and $1.269 billion of Ginnie Mae I MBS, which includes $1.066 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.053 trillion is an increase from $1.924 trillion in January 2018.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

1/31/2019

Today, Ginnie Mae announced that it has restricted Department of Veterans Affairs (VA) single family guaranteed loans pooled by loanDepot in Ginnie Mae pools to Ginnie Mae II custom pools only. loanDepot is restricted from including VA single family guaranteed loans in Ginnie Mae I or Ginnie Mae II multi-Issuer securities. The restriction is effective for [February 1, 2019] issuances and extends through [July 1] issuances. loanDepot 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.

Ginnie Mae is also announcing that it has removed the previously announced restriction limiting Freedom Mortgage Corporation (Freedom) to Ginnie Mae II custom pools for VA single family guaranteed loans, effective [March 1, 2019]. Freedom is again eligible to utilize the Ginnie Mae I and Ginnie Mae II multi-Issuer securities programs for such loans.

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

These program restrictions are part of Ginnie Mae’s ongoing efforts to enforce Section 3-21 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.

1/29/2019

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $30.291 billion in December.

A breakdown of December issuance includes $28.166 billion of Ginnie Mae II MBS and $2.125 billion of Ginnie Mae I MBS, which includes $1.977 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.042 trillion is an increase from $1.913 trillion in December 2017.

For more information on monthly issuance, UPB balance, REMIC monthly issuance and Global Market analysis, visit Ginnie Mae Issuance.

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.

1/16/2019

​Ginnie Mae announced today that the 2019 Ginnie Mae Summit, scheduled for February 4-5 in Washington D.C., is being postponed as a result of the ongoing government shutdown. The annual conference brings together participants in the Ginnie Mae MBS program and also serves as a symposium on broader housing finance issues for industry, investors, analysts, and policymakers.

“Ginnie Mae is currently focused on essential activities critical to supporting the mortgage market and American taxpayers. As a result, the most appropriate decision is to postpone the Summit,” said Ginnie Mae Acting President Maren Kasper. “Based on responses to date, interest in the Summit has been exceptionally strong. We look forward to rescheduling the event when Ginnie Mae returns to normal operations.”

Kasper emphasized that the event remains an important vehicle for Ginnie Mae’s engagement with industry, and that the agency’s “firm intention” is to reschedule the 2019 installment for later in the year.


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.

12/22/2018

During a lapse in government funding, Ginnie Mae will reduce staffing to essential personnel levels. Importantly, Ginnie Mae will continue to remit timely payment of principal and interest to investors. There will also be no disruption of essential functions like the granting of commitment authority and support for continued issuance of Ginnie Mae-guaranteed Mortgage Backed Securities (MBS) and REMICs.

Through its standard continuity of operations protocol, Ginnie Mae will notify issuers and other stakeholders to provide specific operational instructions and contact information for the Ginnie Mae personnel that will manage ongoing business matters that arise during this period of lapsed funding.

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.

===

Questions and Answers

Ginnie Mae’s Critical and Essential Functions During a Lapse in Government Funding

In the event of a government shutdown due to a lapse in government funding Ginnie Mae will continue operations, Ginnie Mae will limit its operations to those functions that are essential to its core operations to avoid any disruption to fulfilling its obligations.

Q: Will Ginnie Mae continue to operate during a shutdown?

A: Yes, Ginnie Mae will continue to operate if the government shuts down. Ginnie Mae’s role in the secondary mortgage market is essential to the market’s stability and liquidity and to maintaining overall economic security and has several employees and functions deemed as such. Therefore, Ginnie Mae employees will continue essential business operations under an emergency exception. Ginnie Mae will have limited staff available to manage business operations and answer questions.

Q: Will issuers be able to get commitment authority during a shutdown?

A: Yes, Ginnie Mae will continue to approve commitment authority.

Q: Can issuers continue to issue securities during a shutdown?

A: Yes, Ginnie Mae will continue to process pools and guarantee securities.

Q: Will investors still receive monthly principal and interest payments?

A: Yes, issuers will continue to make pass-through payments to investors during a shutdown, and all operations to ensure the timely payment of principal and interest continue.

Q: If there is a need for Ginnie Mae to pay out on its guaranty during a shutdown due to a shutdown, can Ginnie Mae do so?

A: Yes, Ginnie MBS carry the full faith and credit of the United States government. Even if there is a temporary government shutdown Ginnie Mae, must honor its guaranty.

Q: If an issuer needs to process a pool, where can it get information about Ginnie Mae’s procedures?

A: For questions about Ginnie Mae policies and procedures, you can consult the Ginnie Mae MBS guide on its website at ginniemae.gov, or contact Ginnie Mae’s pool processing agent, the Bank of New York, Ginnie Mae Helpdesk at 1 (800) 234 (4662).

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Last Modified: 6/22/2018 7:13 PM