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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).

12/13/2018

WASHINGTON, D.C. – Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $33.668 billion in November.

A breakdown of November issuance includes $32.192 billion of Ginnie Mae II MBS and $1.476 billion of Ginnie Mae I MBS, which includes $1.316 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.033 trillion is an increase from $1.903 trillion in November 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.

11/20/2018

WASHINGTON, D.C. - Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $34.370 billion in October.

A breakdown of October issuance includes $32.296 billion of Ginnie Mae II MBS and $1.444 billion of Ginnie Mae I MBS, which includes $1.290 billion of loans for multifamily housing.

Ginnie Mae's total outstanding principal balance of $2.019 trillion is an increase from $1.894 trillion in October 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.

11/16/2018

Washington, DC – Ginnie Mae today published a new All Participants Memorandum (APM 18-07) aimed at strengthening the stability and integrity of the mortgage-backed securities market. APM 18-07 outlines steps the agency will take to evaluate the credit strength of new Issuers, implements new notification requirements for issuers engaged in certain subservicer advance or servicing income agreements, and codifies Ginnie Mae’s ability to impose additional financial or operational requirements on program participants when warranted by market conditions.

Specifically, APM 18-07 does the following:

  • Requires servicers to notify Ginnie Mae if any arrangements are made to finance Ginnie MSRs, ensuring that Ginnie Mae can adequately monitor risks as they move throughout the system.
  • Modifies application requirements for new issuers so that applicants who would immediately appear on Ginnie Mae’s internal financial conditions watchlist are not approved as Ginnie Mae issuers.
  • Clarifies Ginnie Mae’s authority to require supplemental financial or operating requirements before certain issuers are granted additional commitment authority.

“These enhancements add to the factors Ginnie Mae will consider as we keep pace with an evolving mortgage market, protect taxpayers, and ensure that important differences in risk among issuers and servicers are properly accounted for,” said Michael Bright Ginnie Mae EVP and COO. “Our goal continues to be the assurance of a safe and sound program as well as a healthy mortgage-backed security.”

There are nearly 400 approved Issuers of Ginnie Mae MBS. As of Sept. 30, more than $2.008 trillion of Ginnie Mae MBS were outstanding, comprised of more than 11 million loans.

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.

11/1/2018

WASHINGTON, D.C. – Fueled by a new user-friendly online process to create Ginnie Mae Platinum Securities and additional product offerings to the program, Platinum issuance volume surged in FY 18 with more than $20 billion of securities formed, helping to increase the liquidity in the Ginnie Mae mortgage-backed securities (MBS) market. Issuance volume was $7.8 billion it was in 2017.

The larger output comes as more sponsors are taking advantage of the improved automated process available through the MyGinnieMae portal, which enables participation from smaller firms with limited staff and large portfolio managers. MyGinnieMae is a single, secure gateway to all approved Ginnie Mae applications via a dedicated entry point. The portal is becoming a one-stop, full-service solution for accessing Ginnie Mae business applications, and is just one component of the technology modernization program underway at Ginnie Mae. Details of the modernization effort can be found in the Ginnie Mae 2020 white paper published earlier this year.

Supporting the operational aspect of multi-class Platinum Securities is another way for Ginnie Mae to increase liquidity and price stability for Ginnie Mae MBS and the government mortgage loan market that helps to ensure the lowest possible mortgage rates for homeowners across the country.

Ginnie Mae Platinum Securities contribute to this effort by allowing investors to combine Ginnie Mae MBS pools with uniform mortgage interest rates and original terms to maturity into a single security, backed by the full faith and credit of the United States government. Investors then receive a single payment from the combined securities every month, rather than separate payments from each individual security. Because it lowers administrative costs and improves liquidity, particularly for small pools, the Ginnie Mae Platinum Security is an attractive product. Ginnie Mae Platinum Securities can be used in structured finance transactions, repurchase transactions and general trading.

About Ginnie Mae
For the past 50 years, Ginnie Mae has provided Americans, including veterans, first-time homebuyers, and low- and moderate-income borrowers, the opportunity for homeownership. Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for 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.

10/15/2018

WASHINGTON, D.C. – Ginnie Mae’s mortgage-backed securities (MBS) portfolio has reached $2.008 trillion in unpaid principal balance, the federal guarantor announced today. That’s up from $1 trillion just eight years ago.

“The fact that Ginnie Mae has reached $2 trillion in outstanding principal underscores the corporation’s role and highlights our responsibilities as a pillar of America’s secondary mortgage market,” Ginnie Mae EVP and Chief Operating Officer Michael Bright said of the milestone. “Ginnie Mae’s explicit, transparent and paid-for government guaranty has set our MBS apart as one of the most reliable fixed-income securities in the world.”

Now in its 50th year, Ginnie Mae has seen a tremendous amount of growth over the last decade due to its reliable business model that ensures the timely payment of principal and interest to security holders. The safe, efficient and rapid growth has been facilitated by a technology platform that is undergoing continuous modernization, as outlined in the recent white paper “Ginnie Mae 2020.”

Ginnie's business model significantly limits risks to taxpayers by providing a safe, effective and government-backed channel for the flow of capital for U.S. mortgages from around the world. Ginnie has never missed a payment — even during the financial crisis — and returns money to the U.S. Treasury every year. By continuing to attract global capital into the housing finance system, Ginnie helps to support homeownership for veterans, first-time homebuyers, and millions of low- and moderate-income Americans throughout the country.

Approximately $35.75 billion of Ginnie Mae MBS was issued in September. September issuance is comprised of $34.58 billion of Ginnie Mae II MBS, and $1.17 billion of Ginnie Mae I MBS, of which $1.03 billion is backed by multifamily mortgages. Total MBS issuance for fiscal year 2018 was $434.7 billion.

About Ginnie Mae
For the past 50 years, Ginnie Mae has provided Americans, including veterans, first-time homebuyers, and low- and moderate-income borrowers, the opportunity for homeownership. Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for 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.

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