Skip to main content

Ginnie Mae: We’re Running Despite Federal Shutdown

Phil Hall
Dec 26, 2018
Ginnie Mae is assuring its stakeholders that the agency will continue to operate during the midst of the partial shutdown of the federal government

Ginnie Mae is assuring its stakeholders that the agency will continue to operate during the midst of the partial shutdown of the federal government.
In a statement issued by the agency, Ginnie Mae stated that it would continue to approve commitment authority and continue to process pools and guarantee securities for as long as the shutdown continues, adding that issuers will continue to make pass-through payments to investors and all operations related to payment of principal and interest will remain on schedule.
“During a lapse in government funding, Ginnie Mae will reduce staffing to essential personnel levels,” the agency said. “Importantly, Ginnie Mae will continue to remit timely payment of principal and interest to investors. There will also be no disruption of essential functions like the granting of commitment authority and support for continued issuance of Ginnie Mae-guaranteed Mortgage Backed Securities (MBS) and REMICs.”
Ginnie Mae added that its MBS program carries “the full faith and credit of the United States government” and its guaranty will be honored even with the shutdown.

Dec 26, 2018
Crime Stories From The Trenches

Bad brokers, renegade Realtors, treacherous title agents. It’s getting tough out there.

Regulation and Compliance
Oct 26, 2021
Feds Reviewing Appraisal Standards, Qualifications

Appraisal Subcommittee said requirements are being reviewed to determine whether they ensure and promote fairness, equity, objectivity, and diversity, in both appraisals and in the training and credentialing of appraisers.

Regulation and Compliance
Oct 20, 2021
​​​​​​​FHFA OK's Desktop Appraisals, Expands Refi Criteria

The Federal Housing Finance Agency (FHFA) said Monday it will take two steps to help make home ownership more affordable and sustainable for mortgage borrowers, especially for those in underserved communities. 

Regulation and Compliance
Oct 19, 2021
CFPB Names 4 To Key Senior Positions

The appointees include two who helped create the bureau and two who served on the CFPB staff during the Obama administration.

Regulation and Compliance
Oct 14, 2021
FHFA Raises Enterprises' Multifamily Loan Purchase Caps

The Federal Housing Finance Agency (FHFA) said the 2022 multifamily loan purchase caps will be $78 billion for each Enterprise, for a combined total of $156 billion to support the multifamily market.

Regulation and Compliance
Oct 13, 2021
CFPB Hits AAG With Complaint For Deceptive Marketing Of Reverse Mortgages

The Consumer Financial Protection Bureau filed a complaint and proposed consent order, which alleges that American Advisors Group (AAG) used inflated and deceptive home estimates to attract reverse mortgage consumers.

Regulation and Compliance
Oct 12, 2021