Ginnie Mae Postpones Annual Summit
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Ginnie Mae Postpones Annual Summit

WASHINGTON, D.C. – (RealEstateRama) — 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

“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.

Contact: Douglas Robinson

202-475-7818

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At Ginnie Mae, we help make affordable housing a reality for millions of low- and moderate-income households across America by channeling global capital into the nation's housing markets. Specifically, the Ginnie Mae guaranty allows mortgage lenders to obtain a better price for their mortgage loans in the secondary mortgage market. The lenders can then use the proceeds to fund new mortgage loans available. Without that liquidity, lenders would be forced to keep all loans in their own portfolio, meaning they would not have adequate capital to make new loans.

Unlike the GSEs, Ginnie Mae is profitable. We do not buy or sell loans or issue mortgage-backed securities (MBS). Therefore, our balance sheet doesn't use derivatives to hedge or carry long term debt.

Contact:

Phone: (202) 708-0926

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