According to the Ginnie Mae president, the “majority” of the agency’s is-suers would already be in compliance with the new capital requirements. But at least one of its counterparties is considering exiting the Ginnie program.
Ginnie Mae said it supports HUD’s efforts seeking legislation that would provide a permanent source of capital for housing finance agencies fostering affordable multifamily housing.
While credit unions will be treated on par with banks, state housing finance agencies will be fully exempted from capital requirements imposed on those participating in the Ginnie MBS program.
The Department of Housing and Urban Development is bolstering efforts to expand and support secondary market access for community development financial institutions through Ginnie Mae.
With FHA loan performance relatively strong and the spike in interest rates this year, early buyout activity from Ginnie MBS is limited. Overall, removals are slowing thanks to elevated interest rates. (Includes data chart.)
The unprecedented concentration of Black women leadership in the housing finance industry is an opportunity to make changes that have been long overdue, according to Ginnie Mae President Alanna McCargo.
Ginnie Mae President Alanna McCargo wants industry participants and governments to find more ways to expand liquidity for small lenders and community development financial institutions.
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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