Ginnie Mae has released its Fiscal Year 2025 Annual Financial Report, highlighting strong performance in mortgage-backed securities (MBS) issuance, heightened market confidence, and continued delivery on its mission to support affordable housing finance across economic cycles. The report underscores Ginnie Mae’s role as a central liquidity provider for government-insured mortgage lending, especially for first-time homebuyers, veterans, seniors, and underserved communities.
Throughout the fiscal year ending September 30, 2025, Ginnie Mae’s MBS program remained a pivotal source of funding for housing credit, financing approximately 1.4 million households nationwide. Total MBS issuance reached $526.4 billion, contributing to a 7.2% year-over-year growth in the outstanding portfolio. By year-end, the portfolio had expanded by $190.9 billion, surpassing $2.8 trillion in unpaid principal balance.
Agency leadership emphasized that strong investor demand for Ginnie Mae securities reflects sustained market confidence in the quality and liquidity of the agency’s guarantees. In remarks accompanying the report’s release, Housing and Urban Development (HUD) Secretary Scott Turner noted that Ginnie Mae’s performance demonstrates the value of HUD’s housing finance programs in expanding access to mortgage credit for Americans across economic conditions.
“The continued strong demand for the Ginnie Mae MBS program creates affordability for the American people,” said HUD Secretary Turner. “Ginnie Mae’s performance highlights the value of HUD’s housing finance programs in making the American Dream possible for millions of Americans.”
Operational performance was validated by an unmodified audit opinion for the sixth consecutive year, reflecting disciplined financial management and sound internal controls. The agency also generated positive operational results that contributed value to the federal government.
Strategically, Ginnie Mae advanced key initiatives in modernization, cybersecurity, and market transparency, including substantial progress in its Digital Collateral Program, which recorded more than 300,000 eNotes securitized with over $84.4 billion issued by August 2025.
“Ginnie Mae’s work in fiscal year 2025 reflects a clear focus on our mission of ensuring access to affordable mortgage credit,” said Joseph Gormley, Ginnie Mae president. “By strengthening operations, enhancing cybersecurity, and maintaining disciplined risk management, we reinforced market confidence and attracted global capital to support affordable lending for American homeowners in every market environment.”
