Ginnie Mae guaranteed mortgage-backed securities (MBS) financed more than 189,000 homes, and apartment units in March 2022, as the month’s issuance volume reached $51.18 billion—which includes $48.71 billion of Ginnie Mae II MBS and $2.47 billion of Ginnie Mae I MBS (which includes approximately $2.31 billion of loans for multifamily housing).
In February, Ginnie Mae’s MBS issuance volume stood at $53.01 billion, as approximately 191,000 homes and apartment units were financed.
“March’s issuance volume shows that the Ginnie Mae MBS program continues to provide strong liquidity to meet the financing needs of homeowners and rental property owners,” said Ginnie Mae President Alanna McCargo. “With rising interest rates, we expect volumes to decline as affordability is challenged. In this current environment, we are steadfast in our mission to remain a consistent source of finance for affordable housing and to find innovative ways to expand access to credit.”
As of March 31, Ginnie Mae's total outstanding principal balance was $2.186 trillion, up from $2.175 trillion in February 2022, and $2.095 trillion year-over-year in March 2021.
Ginnie Mae was also recently honored as a recipient of the 2022 CIO 100 Award by Foundry’s CIO, an award program that recognizes organizations around the world that exemplify the highest level of operational and strategic excellence in information technology (IT).
“This is an important recognition of the ambitious approach Ginnie Mae is taking to re-imagine and transform the way the agency manages our technology infrastructure,” said Barbara Cooper-Jones, Ginnie Mae’s SVP of the Office of Enterprise Data and Technology. “The mortgage finance industry is constantly innovating, and our technology transformation program consolidates our IT operations in a single and secure government cloud. Our cloud migration will increase agility, speed, and operational efficiency and enable digital transformation that meets the evolving needs of those who do business with Ginnie Mae. Our investment in cloud operations will help us sustain a strong government-financed housing market for millions of families.”
Ginnie Mae will be recognized at the CIO 100 Symposium & Awards Ceremony, set for August 15-17 at the Terranea Resort in Rancho Palos Verdes, California.
“Recognizing the finest work in IT, the CIO 100 Awards showcase the companies and executives leading the charge in innovation as the tech industry continues rapidly advancing,” said Anne McCrory, Group VP, Customer Experience and Operations for IDG Events. "Across the board, this year’s honorees are helping create a more advanced, inclusive environment for all tech professionals.”