WASHINGTON, DC – August 28, 2015 – (RealEstateRama) — Ginnie Mae and the Japan Housing Finance Agency (JHFA) will hold the first Housing Finance and Capital Markets Roundtable at the U.S. Department of Housing and Urban Development. The roundtable is part of the partnership between Ginnie Mae and JHFA, which was formalized by the signing of a Memorandum of Understanding (MOU) signed in January 2014.
“Both the U.S. and Japan have similar interests and concerns regarding the stability in global financial markets,” said Ginnie Mae President Ted Tozer. “Today’s roundtable is an important step toward having a meaningful discussion about the housing finance industry challenges still facing both countries, and working together to create real and sustainable solutions to those problems.”
The event will bring in housing finance experts from the government, financial, and banking sector, as well as, policymakers, academia and association leadership. The goal is to share current policy effectiveness and challenges in the private capital markets. Roundtable panelists will discuss the progress and challenges of enhancing mortgage finance and capital liquidity to support the recovery of the housing finance market, as well as the future outlook of housing finance and capital markets.
Japan, through its financial institutions, is an important investor in Ginnie Mae’s mortgage backed securities (MBS), playing an integral role in helping Ginnie Mae fulfill its mission of bringing global capital into the U.S. housing finance market — a system that runs through the heart of the U.S. economy — while minimizing risk to the taxpayer. Japan and the U.S. share many common interests, especially regarding housing finance. Japan has become one of Asia’s most successful democracies and largest economies, which is driving homeownership among the people of Japan.
“This roundtable will make the partnership between Ginnie Mae and the Japan Housing Finance Agency even stronger,” said Japan Housing Finance Agency President Toshio Kato. “The information shared today will increase the understanding of how to form, guarantee, and sell securitized instruments to support homeownership growth in Asian and other emerging countries.”
The January 2014 MOU acknowledged the success of the Ginnie Mae mortgage-backed securities program in providing liquidity for the housing finance system. Further, the MOU sought to gain a greater understanding of Ginnie Mae’s business model at attracting global capital on behalf of the diverse government sponsored lending programs for single family, multifamily, healthcare facilities, and reverse mortgages. Japan is the world’s third largest economy and by entering this MOU on housing and housing finance, that partnership will become even stronger and will better facilitate the sharing of strategies and policies to enhance the funding of MBS and investments.
Ginnie Mae raises capital from investors in the global credit markets to ensure liquidity for affordable rental and homeownership opportunities across the country. Through its MBS, Ginnie Mae finances housing mortgage insurance programs run by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Office of Public and Indian Housing (PIH) and the Department of Agriculture’s Rural Development Housing and Community Facilities Program (RD).
The Housing Finance and Capital Markets Roundtable can be accessed live via the following links from 1:30 pm – 5:00 pm:
With Captions – http://portalapps.hud.gov/HUDMediaChannel/liveplayer.jsp
Without Captions – http://portalapps.hud.gov/HUDMediaChannel/liveplayer_secondary.jsp
Contact: Gina Screen