Washington, D.C. — (RealEstateRama) — Ginnie Mae today released a progress update to its Ginnie Mae 2020 white paper, detailing strides the agency has made toward modernizing its mortgage-backed securities (MBS) platform, enhancing counterparty risk management and fostering innovative improvements to its program.
“At $2.1 trillion in size and growing, the Ginnie Mae MBS portfolio is an integral component of the U.S. mortgage finance system,” said Ginnie Mae Acting President Maren Kasper. “Ginnie Mae continues to demonstrate its capacity to effectively operate and maintain a state-of-the-art technology platform and counterparty risk framework, keeping pace with innovation and evolution in the mortgage finance system. This allows us to fulfill our mission by facilitating liquidity in the American housing market, ensuring the health of the Ginnie Mae security and protecting taxpayer interests. The report details the progress we have made in the last year and outlines our blueprint for the future.”
Since publishing the Ginnie Mae 2020 roadmap, Ginnie Mae has not only delivered on a host of previously announced strategic initiatives, but has also developed plans for a wide range of new improvements, which are reflective of its mandate to provide low-cost financing for the government-insured mortgage programs while ensuring stability in the secondary market and minimizing the risk to taxpayers. Ginnie Mae’s achievement of its strategic goals in the past year will be discussed in detail at the agency’s Summitin Washington D.C. from June 13-14, where nearly 1,000 people from the mortgage finance, capital markets, public policy and other fields with an interest in the mortgage secondary market are expected to attend.
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 (FHA), Office of Public and Indian Housing (PIH), the U.S. Department of Veterans Affairs’ (VA), the U.S. Department of Agriculture’s (USDA) Rural Development Housing, and Community Facilities Programs and Rural Development Guaranteed Rural Rental Housing Program (RD).
Contact: Douglas Robinson