Washington, DC – RealEstateRama – Angel Hernandez, Ginnie Mae’s Director of MBS Policy and Program Development, will outline the corporation’s progress in the development of a digital mortgage solution framework for its mortgage-backed securities (MBS) program at the upcoming Rewired Conference in Miami, Florida on November 18.
This event is the latest by Ginnie Mae to provide mortgage market stakeholders with information on the company’s strategy for eMortgage adoption. In October, Ginnie Mae announced that it had selected eOriginal as its provider of eVault software and services, a pre-requisite for establishing a comprehensive eMortgage program for Ginnie Mae’s $2.1 trillion MBS program. In addition, Ginnie Mae is in the process of collecting feedback on its proposed guidelines for digital collateral, also published in October. Industry feedback on these guidelines is due December 1.
Ginnie Mae is committed to modernizing its MBS program by enhancing its policies and guidelines and deploying new state-of-the-art user-facing technology across all aspects of its business. More on Ginnie Mae’s roadmap to modernization can be found in the Ginnie Mae 2020 Progress Update on the company’s website.
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