This month, we celebrate the 22nd annual
National Homeownership Month, a milestone recognized by a
Presidential Proclamation. As highlighted in the
HUD statement, homeownership isn’t just a cornerstone of the “American dream;” it also provides stability and financial security and serves as the primary avenue for building generational wealth. At Ginnie Mae, this month holds a special significance—it’s a time to reaffirm our commitment to creating affordable homeownership opportunities for first-time buyers and those historically underserved by the traditional mortgage market. It’s also an occasion to reflect on our achievements and set ambitious goals for the future.
Ginnie Mae was founded to address longstanding disparities that prevented many Americans from owning homes, and our purpose is clear: to expand affordable homeownership and rental options, with a particular focus on low- and moderate-income families. Beyond the immediate economic benefits, our work creates pathways to wealth, empowering households to achieve lasting financial stability. As part of our commitment to our
mission, Ginnie Mae actively bridges homeownership gaps, addresses affordability challenges, and works to overcome housing supply issues. Our success stories include:
- Issuing
3.2 million loans to low- and moderate-income borrowers.
1
- Facilitating nearly
800,000 modifications for borrowers facing difficulties.
2
- Bolstering our Home Equity Conversion Mortgage MBS (HMBS) program, benefiting nearly
290,000 senior households.
3
- Supporting more than
1.2 million households in America by surpassing $400 billion in MBS issuances.
4
- Expanding and streamlining our
digital collateral program to include the commingling of paper and digital collateral, making our processes more convenient for Issuers and beneficial for our borrowers. Our digital collateral program has demonstrated consistent growth year over year, introducing innovation to the government mortgage market while aligning with HUD’s strategic goals for modernization.
- Engaging the
Tribal Intergovernmental Advisory Committee (TIAC) to build awareness of affordable housing opportunities amongst the communities that we serve. We aim to bridge longstanding disparities and promote homeownership in these communities by participating in TIAC and engaging with several tribal communities at events, including the upcoming
National American Indian Housing Council Conference.
Working in close partnership with the Federal Housing Administration (FHA), we are modernizing the Title I program to enhance our support for manufactured housing through the Manufactured Housing Program. We recently
introduced program enhancements aimed at expanding participation and increasing liquidity for manufactured housing borrowers. These changes align with the Biden-Harris Administration’s
efforts to bolster housing supply and reduce costs through innovative manufactured housing solutions.
Additionally, this month, we also commemorate the 90th anniversary of the Federal Housing Administration (FHA)—an organization that has modernized the American mortgage system and prevented countless families from losing their homes. FHA also works alongside us by insuring 58.4 percent of our portfolio—our collaboration strengthens our shared mission, ensuring that homeownership remains a cornerstone of the American dream.
Ginnie Mae has responded to some of the most serious challenges facing the housing finance market while continuing to support credit for borrowers nationwide. Our dedication to our mission remains as strong as ever. At Ginnie Mae, we’re constantly innovating and collaborating to ensure a thriving housing market that fosters opportunity for all. We’re proud of our achievements but even more excited about the future. As National Homeownership Month unfolds, we remain dedicated to expanding access to affordable housing and empowering families to build a secure future.
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1 Active Ginnie Mae loans as of April 2024.
2 Active Ginnie Mae loans as of April 2024.
3 As of FY2023.
4 As of FY2023.