Washington, D.C. – RealEstateRama – Ginnie Mae executives are scheduled to deliver presentations next week at the Mortgage Banker’s Association’s (MBA) Independent Mortgage Bankers conference updating the mortgage industry on the agency’s potential role in housing finance reform and its approach to counterparty risk management. The Ginnie Mae executives are participating in the Independent Mortgage Bankers conference in New Orleans, February 3-6.
Michael Drayne, Acting Executive Vice President and Senior Vice President for Strategic Policy, Planning and Communications will join other leaders from the Department of Housing and Urban Development for a general session panel discussion, “Housing Finance Reform: What it Means for Independent Mortgage Bankers.”
Senior Vice President and Chief Risk Officer Gregory Keith will participate in an in-depth discussion of counterparty risk as part of the conference’s “Counterparty Risk: Managing Perception and Reality” session. For background on Ginnie Mae’s approach to counterparty risk management, please see the Ginnie Mae 2020 Progress Update white paper, and these blogposts, “Understanding Key Points about Counterparty Policy,” and “Taking a Custom Approach to Counterparty Risk.”
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.
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