Ginnie Mae Setting Historic Pace in August

According to data provided to HousingWire by eMBS, Inc., fixed issuance in October at Ginnie Mae rose to $27.8 billion, while Fannie saw fixed issuance fall to $27.7 billion; Ginnie had already.

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Ginnie Mae Government National Mortgage Association OIG federal housing finance Agency Office of Inspector General OIG WPR -2017 002 September 7, 2017 5

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Overall Ginnie Mae issuance is down significantly, with only $17.8 billion issued in March 2014, compared to an average of $38 billion per month in FY 2013. (These figures include both forward and reverse, Ginnie Mae I and Ginnie Mae II securities.) This reflects the decline in mortgage originations generally, especially refinancing.

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Ginnie Mae Setting Historic Pace in August Perhaps it’s not surprising then that the average fico score for all closed loans was 731 for August, the highest that number has been since march 2015. ellie mae’s report also provided more proof.

The Government National mortgage association (gnma), or Ginnie Mae, was established in the United States in 1968 to promote home ownership.As a wholly owned government corporation within the Department of Housing and Urban Development (HUD), Ginnie Mae’s mission is to expand affordable housing finance in America by linking domestic and global capitalization to the nation’s housing finance.

Ginnie Mae securities are the only MBS that are guaranteed by the United States government. Ginnie Mae, which extracts fees for guaranteeing mortgage investors are repaid, is a smaller and more conservative player in the mortgage market than Fannie Mae and Freddie Mac were.

Today, Ginnie Mae remains the primary financing mechanism for all government-insured or government-guaranteed mortgage loans, including FHA, VA and Rural Development. In 1970, Ginnie Mae developed and issued the very first MBS, which allowed many loans to be pooled and used as collateral in a security that could be sold in the secondary market.

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