The Government National Mortgage Association (Ginnie Mae) has announced that it will soon begin releasing monthly disclosure files on its outstanding mortgage-backed securities (MBS) approximately two weeks earlier than previously released. Ginnie Mae believes the expedited schedule will serve to maximize the value of its securities, which ultimately helps drive down mortgage rates for consumers.
Beginning in September 2010 and thereafter, Ginnie Mae will release MBS disclosure files on the 15th business day of the month in which the data is collected. Currently, Ginnie Mae collects disclosure information on the second business day of the month for the previous month’s activity. Those files are then released on the second business day of the following month. Therefore, without the change, data for securities activity for September 2010 would not become available until the second business day of November. As a result of this change, this data will now be available on the 15th business day of October.
“We have listened to our investors’ requests for more timely disclosure of our MBS data,” said Ginnie Mae President Theodore Tozer. “As part of our continuing efforts to be as investor-centric as possible, without causing disruptions to our Issuers or government guaranty, we’ve been able to execute on this promise."
For more than 40 years, the industry has turned to the security of the Ginnie Mae MBS, allowing Ginnie Mae to provide homeownership opportunities to millions of Americans. Ginnie Mae securitizes loans insured or guaranteed by the Federal Housing Administration (FHA), the Department of Veterans Affairs (VA), the Department of Agriculture’s (USDA) Rural Development, and the Department of Housing and Urban Development's Office of Public and Indian Housing (PIH).
For more information, visit www.ginniemae.gov.