Ginnie Mae guarantees more than $1.5 trillion of mortgage-backed securities and the vast majority of government loans are placed in Ginnie Mae MBS. Access to the Ginnie Mae program is critical for government loan originators.
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Washington, DC – ginnie mae announced today that its mortgage-backed securities (MBS) portfolio reached $1.5 trillion in unpaid principal balance (UPB). Ginnie Mae President Ted Tozer noted the unprecedented expansion of recent years.
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Allowing for modest portfolio growth through 2009. backing had earlier allowed fannie mae and Freddie Mac portfolios of MBS and other securities to more than double since 1998 to a combined $1.5.
Just four years after Ginnie’s portfolio reached $1 trillion, the corporation’s portfolio now stands at more than $1.5 trillion.
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Ginnie Mae does not originate loans or issue MBS, which means we have no exposure to credit risk if a borrower defaults on their loan. Ginnie Mae facilitates a diverse range of products including single-family and multifamily properties, and currently has a $1.5 trillion portfolio of outstanding MBS.
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This shift has brought about extraordinary growth in Ginnie Mae’s portfolio. As Ted Tozer comments, "It took [Ginnie Mae] 40 years to get to $1 trillion in [mortgage-backed securities] outstanding; then from 2010 we grew by half that volume, reaching $1.5 trillion."
Ginnie Mae guarantees more than $1.5 trillion of mortgage-backed securities and the vast majority of government loans are placed in Ginnie Mae MBS. Ginnie Mae Enterprise Portal – Home – Ginnie Mae’s role in the secondary market supports the economic stabilization efforts of Congress and the Administration by making it possible for financial institutions to continue mortgage lending.
Ginnie Mae is a rapidly expanding company and with a growing $1.5 trillion portfolio and we need to make sure that we are able to continue to support that growth with new systems and technology, while at the same time keeping the trains running. Thanks for stopping by and be sure to check back next month for a new edition of A Day in the Life !