Ginnie Mae guarantees MBS backed by FHA, VA, and USDA loans to facilitate funding for affordable housing. The document discusses Ginnie Mae's role, operations, and initiatives including modernizing its securitization platform, adopting MISMO standards, and releasing loan-level data. It also covers trends in housing finance reform, evolving issuer profiles, and Ginnie Mae's efforts to support stakeholders through acknowledgement agreements and inter-agency coordination.
Last week, the FHA announced an initiative it's calling HAWK, or Homeowners Armed With Knowledge.
"The HAWK program is potentially a big deal for first-time homebuyers looking to use FHA funding, as it reduces both the upfront mortgage insurance premium and the annual premium," said Guy Cecala, CEO and publisher of Inside Mortgage Finance.
This presentation provides a discussion of the risk sharing activities of Fannie Mae and Freddie Mac. It includes an overview of the goals of those activities, the specific transactions utilized in both the multifamily and single-family operations, and the impact of risk-sharing on the federal budget and other financial measures.
Presentation by Sebastien Gay, Assistant Director of CBO’s Financial Analysis Division, at the 2017 Real Estate Research Symposium at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill.
Last week, the FHA announced an initiative it's calling HAWK, or Homeowners Armed With Knowledge.
"The HAWK program is potentially a big deal for first-time homebuyers looking to use FHA funding, as it reduces both the upfront mortgage insurance premium and the annual premium," said Guy Cecala, CEO and publisher of Inside Mortgage Finance.
This presentation provides a discussion of the risk sharing activities of Fannie Mae and Freddie Mac. It includes an overview of the goals of those activities, the specific transactions utilized in both the multifamily and single-family operations, and the impact of risk-sharing on the federal budget and other financial measures.
Presentation by Sebastien Gay, Assistant Director of CBO’s Financial Analysis Division, at the 2017 Real Estate Research Symposium at the Kenan-Flagler Business School, University of North Carolina at Chapel Hill.
Investment banking project on Bank of America -Merrill LynchPankaj Gaurav
• Working model to serve the client
• Integrated operating model
• Lines of businesses
• Activities in global commercial banking
• Investment banking activities
• Details of advisory services in recent Deal in M&A, IPO issue
Does less regulation equal more loan defaultsusmajormovers
The recent U.S. House vote to roll back mortgage lending limits of the 2010 Dodd-Frank Bill was termed the “crown jewel” of Republican reform, but it is by no means a shoe-in in the Senate. However, if efforts are successful at raising the Debt-to-Income (DTI) ratio from its present 43% limit, what effect will the change have on future loan default rates? No one seems to have a functioning crystal ball, but there are few historical statistics to rely upon for hints.
Canadian Government debt can lead to program cuts and taxation increase down ...paul young cpa, cga
This presentation will look at all aspects of government debt including net debt, interest cost and bond rating.
Government debt is a key are for people to understand as it reflect decisions by government in terms of paying down the debt.
With increasing demand on limited public resources, national and local governments are recognizing the need for a new approach to social services that emphasizes the identification of effective, innovative ideas. However, a lack of available funding and the reluctance to take on the risk that a promising, but unproven, idea might fail have created obstacles to this new approach. The social impact bond model is designed to eliminate these obstacles.
JPMORGAN CHASE REPORTS THIRD-QUARTER 2013 NET LOSS OF $0.4 BILLION, OR $(0.17) PER SHARE, ON REVENUE1 OF $23.9 BILLION
THIRD-QUARTER 2013 NET INCOME OF $5.8 BILLION, OR $1.42 PER SHARE, EXCLUDING LITIGATION EXPENSE AND RESERVE RELEASES1
Investment banking project on Bank of America -Merrill LynchPankaj Gaurav
• Working model to serve the client
• Integrated operating model
• Lines of businesses
• Activities in global commercial banking
• Investment banking activities
• Details of advisory services in recent Deal in M&A, IPO issue
Does less regulation equal more loan defaultsusmajormovers
The recent U.S. House vote to roll back mortgage lending limits of the 2010 Dodd-Frank Bill was termed the “crown jewel” of Republican reform, but it is by no means a shoe-in in the Senate. However, if efforts are successful at raising the Debt-to-Income (DTI) ratio from its present 43% limit, what effect will the change have on future loan default rates? No one seems to have a functioning crystal ball, but there are few historical statistics to rely upon for hints.
Canadian Government debt can lead to program cuts and taxation increase down ...paul young cpa, cga
This presentation will look at all aspects of government debt including net debt, interest cost and bond rating.
Government debt is a key are for people to understand as it reflect decisions by government in terms of paying down the debt.
With increasing demand on limited public resources, national and local governments are recognizing the need for a new approach to social services that emphasizes the identification of effective, innovative ideas. However, a lack of available funding and the reluctance to take on the risk that a promising, but unproven, idea might fail have created obstacles to this new approach. The social impact bond model is designed to eliminate these obstacles.
JPMORGAN CHASE REPORTS THIRD-QUARTER 2013 NET LOSS OF $0.4 BILLION, OR $(0.17) PER SHARE, ON REVENUE1 OF $23.9 BILLION
THIRD-QUARTER 2013 NET INCOME OF $5.8 BILLION, OR $1.42 PER SHARE, EXCLUDING LITIGATION EXPENSE AND RESERVE RELEASES1
U.S. Lending Industry Meets Mortgage Process as a ServiceCognizant
In a challenging and changing market, mortgage process as a service, orMPaaS, can provide banks with the talent and systems to handle essen¬tial lending services, enabling them to focus on rebuilding their business through product innovation to capture market share.
Sources of Capital in Today’s Difficult Credit EnvironmentSSDlaw
Your bank tells you that they won't lend you any more money (or they want the money back that they have loaned to you). What do you do now? Despite a very difficult credit environment, there are other options to fund your business. Please join Michael Booth of Sebaly Shillito + Dyer, and Cliff Bishop of Brady Ware Capital for a discussion of the current state of the credit markets as well as other options for funding the capital needs of your business.
Webinar: “Hospitals, Capital, and Cashflow Under COVID-19”PYA, P.C.
Hospitals and providers need to think creatively, strategically, and long-term about capital and cashflow under the pressures of the COVID-19 pandemic. A one-hour webinar hosted by PYA discussed the current state of capital markets for non-profit healthcare systems, and considerations for capital management, including the role of real estate assets.
PYA Principal Michael Ramey joined Realty Trust Group Senior Vice-President Michael Honeycutt and Ponder & Company Managing Director Jeffrey B. Sahrbeck to present “Hospitals, Capital, and Cashflow, Under COVID-19” In this webinar, they covered:
Hospital industry capital market updates and trends, including how the capital markets are responding to the crisis.
Access to capital under recent regulations.
Cash preservation techniques for hospitals considering real estate operations and assets.
The webinar took place Thursday, April 9, 2020, at 11 a.m. EDT.
Rixos Tersane Istanbul Residences Brochure_May2024_ENG.pdfListing Turkey
Tersane Suites Residences is a luxurious real estate project located in the heart of Istanbul, next to the beautiful Golden Horn. This unique development offers hotel concept residences with Rixos management, making it the perfect choice for both homeowners and investors.
The Tersane Suites Residences offers a wide range of options, from studio apartments to spacious four-bedroom units, all designed to the highest standard. The suites are finished with high-quality materials and feature modern, open-plan living spaces, fully-equipped kitchens, and large balconies with stunning views of the city and sea.
One of the standout features of Tersane Suites Residences is the Rixos management, which provides a truly exclusive and upscale living experience. Residents will have access to a range of luxury amenities, including a fitness center, spa, and indoor and outdoor swimming pools. Plus, the on-site restaurants and cafes provide a taste of the local and international cuisine.
The Tersane Suites Residences also offers a great opportunity for investors, as it provides a rental guarantee program. This means that investors can enjoy a steady income stream, with the peace of mind that their property is being managed by a reputable and experienced team.
The location of Tersane Suites Residences is also unbeatable, with easy access to the city’s main transportation links and within close proximity to the historic center, making it the perfect base for exploring all that Istanbul has to offer.
The KA Housing - Catalogue - Listing TurkeyListing Turkey
Welcome to KA Housing, a distinguished real estate development nestled in the heart of Eyüpsultan, one of Istanbul’s most promising districts.
Just 10 minutes from the bustling city center, Eyüpsultan offers a serene escape with the convenience of urban living. The direct metro line ensures seamless connectivity to all parts of Istanbul, making it an ideal location for residents who seek both tranquility and vibrancy.
KA Housing boasts unparalleled accessibility, with proximity to Istanbul Airport only 30 minutes away, facilitating easy international travel. Effortless city access is guaranteed by direct metro and transportation links to Istanbul’s cultural and commercial hubs. Quick access to key metro lines connects you to every corner of the city within minutes, making commuting and exploring the city hassle-free.
The development offers luxurious living spaces with a range of unit layouts from 1+1 to 4+1, designed with meticulous attention to detail. Each unit features balconies or terraces, providing stunning vistas of Istanbul and enhancing the living experience. High-quality materials and superior craftsmanship ensure durability and elegance, while sound-proof insulation and high ceilings (2.95 m) offer comfort and sophistication.
Residents of KA Housing enjoy exclusive on-site amenities, including a state-of-the-art gym, outdoor swimming pool, yoga area, and walking paths. Entertainment options abound with a private cinema, children’s playground, and a variety of dining options including a café and restaurant. Security and convenience are paramount with 24/7 security, a dedicated carpark garage, and an IP intercom system.
KA Housing represents a prime investment opportunity with limited availability in a high-demand area, ensuring enduring value and potential for lucrative returns. Homes in this development provide exceptional value without compromising on quality, offering affordable luxury for discerning buyers. The construction is of the highest quality, built to the latest seismic and disaster resistance standards, ensuring safety and resilience.
The community and surroundings of KA Housing are enriched by close proximity to prestigious universities such as Haliç University, Bilgi University, and Istanbul Ticaret University, making it an ideal location for students and academics. The development is adjacent to the Alibeyköy stream leading into the Halic waters, offering serene natural escapes amidst lush greenery. Residents can enjoy the cultural richness of the area, surrounded by historical and cultural landmarks that blend leisure, nature, and culture seamlessly.
https://listingturkey.com/property/the-ka-housing/
Recent Trends Fueling The Surge in Farmhouse Demand in IndiaFarmland Bazaar
Embarking on the journey to acquire a farmhouse for sale is just the beginning; the real investment lies in crafting an environment that contributes to our mental and physical well-being while satisfying the soul. At Farmlandbazaar.com, India’s leading online marketplace dedicated to farm land, farmhouses, and agricultural lands, we understand the importance of transforming a humble farmland into a warm and inviting sanctuary. Let's explore the fundamental aspects that can elevate your farmhouse into a tranquil haven.
The SVN® organization shares a portion of their new weekly listings via their SVN Live® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Discover Yeni Eyup Evleri 2, nestled among the rising values of Eyupsultan, offering the epitome of modern living in Istanbul.
With its spacious living areas, contemporary architecture, and meticulous details, Yeni Eyup Evleri 2 is poised to be the star of your happiest moments. Situated in the new favorite district of Eyupsultan, claim your spot and unlock the doors to a peaceful life alongside your loved ones. Nestled next to the historical and natural beauties of Eyupsultan, embrace the comfort of modern living and rediscover life.
Social Amenities:
Yeni Eyup 2 offers a life filled with joy with its green landscaping areas, gym, sauna, children’s play areas, café, outdoor pool, and basketball court. Reserve your place for unforgettable moments!
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With 1+1, 2+1, and 3+1 apartment options, Yeni Eyup Evleri 2 is designed with first-class materials and craftsmanship. The doors to a safe and comfortable life are here! Choose the option that suits you best and step into your dream home.
Project:
Yeni Eyup 2 is conveniently located, with Istanbul Airport just 26 minutes away, the Mecidiyeköy Metro Line 4 minutes away, and the Tram Stop 5 minutes away, making your life easier with its central location.
Location:
Your home is positioned in a privileged location, providing easy access to the city center, shopping malls, restaurants, schools, and other important places.
Yeni Eyup 2 offers 1+1, 2+1, and 3+1 apartment options designed to meet different needs. Find an option suitable for every lifestyle and open the doors to a comfortable life in your dream home.
https://listingturkey.com/property/yeni-eyup-evleri-2/
Rams Garden Bahcelievler - Istanbul - ListingTurkeyListing Turkey
Implemented by Rams Global in Bahcelievler, the Rams Garden Bahcelievler Apartments includes 796 residences of different types from 2+1 to 5+1.
Next to the project, which will have 33 thousand square meters of green area, there will be 42 thousand 300 square meters of woodland. There will also be a 210-meter-long pond in the landscape of the project. There are 94.5 square meters of green space per flat.
Rams Garden Bahcelievler Apartments, which has 8 times more green space than the average of Istanbul with its 33 thousand square meters of green area located within a total of 75 thousand square meters, offers various housing options from 2+1 to 5+1.RAMS Garden has brought a lifeline to the construction industry.
Rams Global, which has signed projects in many places from Dubai to Phuket and delivered more than 20 thousand residences, is now starting new projects in Istanbul.
Rams Garden Bahcelievler is located 9 minutes from Metroport AVM, 5 minutes from Marmara Forum AVM, 12 minutes from Kazlıçeşme beach, 9 minutes from Yıldız Technical University, 7 minutes from Istinye University, 9 minutes from Ramada Hotel and Medicana Hospital.
https://listingturkey.com/property/rams-garden-bahcelievler-apartments/
Presentation to Windust Meadows HOA Board of Directors June 4, 2024: Focus o...Joseph Lewis Aguirre
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Sense Levent Kagithane Catalog - Listing TurkeyListing Turkey
Sense Levent offers a luxurious living experience in the heart of Istanbul’s vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The building’s elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbul’s average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkey’s licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; it’s a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
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1. Five Star Government Forum
March 25,2014
Ginnie Mae:
Program Overview and Insights
2. Discussion Overview
• Ginnie Mae’s Role in the Market
• Housing Finance Reform
• Evolving Industry Trends
• Ginnie Mae Initiatives and Response
3. Overview
• U.S. Government-owned corporation within HUD
• Guarantee Mortgage-Backed Securities (MBS), which raise funding for virtually all
loans insured or guaranteed by U.S. Government agencies (FHA, VA, USDA Rural
Development)
– Only MBS backed by full faith and credit guaranty of the U.S. government
– Ginnie Mae does not originate loans or issue MBS, and thus has no exposure to
credit risk
• Facilitate financing of diverse products:
– Single-family: forward & reverse mortgages, manufactured homes
– Multifamily: construction & permanent loans, hospitals, nursing homes, assisted
living facilities
• Outstanding MBS guaranteed volume of nearly $1.5 trillion
– Monthly issuance of $20 - 30 billion
• Over 400 approved Issuers in program
− Ginnie Mae manages counterparty risk at the Issuer level
4. Ginnie Mae – Core Functions
• Servicers and Issuers are
approved based on financial,
management, and operational
capacity.
• Infrastructure must support
pools that include loans from
multiple guarantors and loans
being serviced by multiple
servicers.
• A significant aspect of
ensuring liquidity is acting as
a conduit of information
between servicers,
guarantors, MBS investors,
and policymakers.
• Establish non-guarantee fees
for utilizing the guarantee and
services of Ginnie Mae.
Establish Pooling Requirements for
Ginnie Mae Securities
Provide Infrastructure to Issue
Sophisticated MBS
Approve and Monitor Servicers/Issuers
3
2
1
Generate Loan Level Data for all loans in
Ginnie Mae Pools at Issuance and
Monthly
4
Remit Interest and Principal to MBS
Investor
5
Generate Monthly Reporting on Ginnie
Mae REMIC Securities as Required
6
Coordinate with MBS Stakeholders to
Ensure Maximum Liquidity
7
5. • A healthy financial institution that has generated positive earnings throughout the
recent crisis, Ginnie Mae continued this trend in FY 2013 with a profit of $628.4
million.
• Ginnie Mae guarantees a portfolio of MBS backed by 9.1 million loans and nearly
$1.5 trillion in current UPB.
• Annual portfolio growth has been averaging 12.24% since FY 2010.
• The portfolio composition consists by dollar volume of 69.7% FHA loans; 24.3%
VA loans; and 5.8% RHS loans.
• The composition of pools issued in 2013 consisted of 61% FHA loans, 34% VA
loans, and 5.5% RHS loans.
Ginnie Mae: Guaranteed MBS Portfolio
Overview
6. Ginnie Mae & Fannie/Freddie Loss Waterfall Comparison
Fannie/Freddie with Risk-shareGinnie Mae
First Dollar Loss
Last Dollar Loss
LOSSES
Government
Agency Credit
Enhancement*
Corporate
Resources of
Issuer/
Servicer
Ginnie Mae
Relative Loss Position
$
First Dollar Loss
Last Dollar Loss
LOSSES
Homeowner
Equity
Fannie/
Freddie
Relative Loss Position
$
Private
Mortgage
Insurance**
*VA covers the first 25% of the credit loss, USDA-RHS covers the first 90%, and FHA covers 100%. Coverage of foreclosure
expenses vary by agency; uncovered expenses can be substantial
**Private Mortgage Insurance (PMI) is only required for loans with > 80% LTV; loans with ≤ 80% LTV have no PMI
***Private Credit Enhancement is the result of a recent FHFA mandate on GSE lending requiring risk-share
Private Credit
Enhancement***
Homeowner
Equity
7. Comparison of MBS System Models
Model Ginnie Mae GSE
Bipartisan Policy
Council (Proposed)
Issuer Lender GSE Lender
Credit Risk Holder FHA, VA, USDA/Lender GSE/PMI/Risk-Share Investor Private Entities
Nature of Govt. Guaranty Explicit Implicit Explicit
Govt. Guarantor
Counterparty
Issuer/Servicer
Borrower/
PMI/Risk-Share Investor
Private Credit Enhancer
Govt. Place in Loss
Waterfall*
Fourth
Second/
Third
(in case of PMI on loans w/LTV>80 or
Risk-Share deal)
Third
Guarantors Supported by
the Program
Four
(FHA, VA, RHS, and PIH)
One Multiple
*See Preceding Slide
8. • The U.S. Government has had a significant role in the mortgage market going back at least
30 years
Government Support of Mortgages
Commercial banks
Savings & loans
Government agencies &
government-sponsoreed
enterprises
(government-backed mortgage pools
& loans in portfolio)
Private mortgage conduits
Other
(credit unions, pension
funds, individuals, etc.)
Life insurance companies
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Source: Federal Reserve
Single-Family Mortgage Market Share 1955-2013
9. TBA Market Overview
• To-Be-Announced (TBA) market was created in 1970s to support Ginnie
Mae securitization & financing of government insured loans
– Virtually all government insured mortgages are sold into the TBA market – sold
as part of MBS guaranteed by Ginnie Mae, Fannie Mae & Freddie Mac
• Facilitates forward trading of mortgages (delivery can take over three
months, on average takes two months)
• Enables lenders to lock in rate for loan originations prior to actually
originating loans
• Ginnie Mae has little operational risk through the TBA process.
• TBA securities have U.S. Government guaranty, which facilitates scale of
market & fungibility of securities
• Ginnie Mae TBA provides a reliable and highly utilized conduit to the
market.
11. Evolving Market: Ginnie Mae and GSE MBS
MBS outstanding in billions
Sources: Fannie Mae and Freddie Mac Monthly Reports; Ginnie Mae data includes HECMs
Dec 2013: $2,804B
Dec 2013: $1,482B
Dec 2013: $1,622B
12. Overall Industry Context and Trends
• Volume Drop: Conventional and government mortgage lending have
dropped significantly. In the last 9 months, Ginnie Mae’s monthly issuance
volume has dropped from a high of $42 billion per month last June to a low
of less than $23 billion per month in December 2013.
• Implications: Lender/Servicer financial viability issues
• Refi to Purchase Money Mortgage: In contrast to GSEs, Ginnie Mae MBS
have contained a higher percentage of purchase money mortgages. As refi
volume has decreased, Ginnie Mae’s relative market share has increased
from 25% in CY 2012 to 31% in February 2014.
• Changing Issuer Profile: Litigation risk, regulatory risk, reputation risk, and
Basel capital requirements have prompted Depository Institutions to shrink
their servicing operations and through sale of MSRs to rapidly growing Non-
Depository Institutions.
13. Change in Issuer Composition by Dollar Volume of
Servicing
2010 Issuance Volume: $414 B
14. Top 10 Issuers Comparison, 2011 & 2014
Top 10 Issuers by Outstanding Servicing as of Feb. 2014
Issuer
Rank
Issuer Name UPB % of Portfolio UPB
1 WELLS FARGO BANK, NA $420,655,223,418 31.7%
2 JP MORGAN CHASE BANK, NA $155,944,540,551 11.8%
3 BANK OF AMERICA, NA $117,011,541,853 8.8%
4 U. S. BANK, NA $52,736,873,688 3.9%
5 NATIONSTAR MORTGAGE, LLC $48,184,121,245 4.0%
6 LAKEVIEW LOAN SERVICING, LLC $33,727,476,332 2.5%
7 PENNYMAC LOAN SERVICES, LLC $33,481,587,994 2.5%
8 FREEDOM MORTGAGE
CORPORATION
$32,231,265,775 2.4%
9 OCWEN LOAN SERVICING, LLC $29,753,915,201 2.2%
10 QUICKEN LOANS, INC $28,693,270,683 2.2%
Total Top 10 Issuers $952,419,816,740 72.6%
Total Ginnie Mae Single-family
Portfolio:
$1,326,685,913,879
Top 10 Issuers by Outstanding Servicing as of Sept. 2011
Issuer
Rank
Issuer Name UPB % of Portfolio UPB
1 WELLS FARGO BANK, NA $334,218,512,030 29.8%
2 BANK OF AMERICA, NA $315,768,619,002 28.2%
3 JP MORGAN CHASE BANK, NA $102,983,003,938 9.2%
4 GMAC MORTGAGE, LLC $46,662,945,083 4.2%
5 CITIMORTGAGE, INC $41,106,617,883 3.7%
6 U. S. BANK, NA $38,525,869,511 3.4%
7 PHH MORTGAGE CORPORATION $26,437,504,266 2.4%
8 FLAGSTAR BANK, FSB $20,293,227,800 1.8%
9 PNC BANK, NA $18,345,896,742 1.6%
10 SUNTRUST MORTGAGE, INC $17,986,640,183 1.6%
Total Top 10 Issuers $962,328,836,438 85.8%
Total Ginnie Mae Single-family
Portfolio:
$1,121,090,272,175
15. Issuance Share by Government Agency (Dollar Volume)
VA has been a growing proportion of our issuance; ~35% in CY 2013
16. • VA has been a growing proportion of our issuance; ~35% in CY 2013
Issuance Share by Government Agency Loan Dollar Volume
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
2010 2011 2012 2013*
Ginnie Mae Issuance Share by Govt. Agency Volume
FHA
VA
RHS/PIH
*Through November
17. Ginnie Mae Modernization Initiative
• Modernized securitization platform for loan pooling, securities issuance,
data validation & disclosures distribution
• Our platform processes approximately $20 Billion in monthly payments on
the 9 million loans in our MBS and distributes funds to investors.
• Creates new MBS for 110,000 – 130,000 new loans each month.
• MISMO Implementation and Leadership
• Leading federal government in implementation of MISMO adoption
• Publication of loan-level data disclosures for 2013 & 2014
• Loan-Level data for new Single-Family loans released August 2013
• Loan-Level data for existing Single-Family loans released December 2013
• Publish over 34 million pool-level & 327 million loan-level data points a
month
• Targeting Q3 2014 for release of HMBS Enhanced Pool Disclosure and
Phase II of HMBS loan-level disclosures.
18. Ginnie Mae Initiatives
• Acknowledgment Agreements
• The use of Acknowledgement Agreements allows mortgage lenders to
pledge their Ginnie Mae mortgage servicing rights in order to gain access to
liquidity and to meet capital structure strategies.
• Ginnie Mae I and Ginnie Mae II Modernization
• Evaluating the merger of the Ginnie Mae I and Ginnie Mae II programs to
enhance market liquidity.
• FHLB Chicago Conduit Issuer Project
• FHLB Chicago is a Ginnie Mae Issuer, will buy loans from PFIs, aggregate
them & through Ginnie Mae deliver them to investors
• PFIs will have the option to retain or sell servicing on loans
• Coordination Among Government Housing Agencies
• Joint federal housing agencies including FHA, VA, RHS, FHFA, CFPB now
meeting regularly to discuss housing policy, risk issues, and best practices.
19. Summary
• Ginnie Mae is:
– Delivering on its mission to support the government housing
programs with over 98% of government housing loans in Ginnie
Mae MBS.
– Making money for the government and supporting the
housing programs with a minimum of risk.
– Exercising leadership in standardization activities like
MISMO and in making more information available to
investors.
– Responding to the needs of our industry with funding
mechanisms and collaborative pilot programs to continue to
find ways to support American homebuyers and renters.