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Ginnie Mae Contributes to Affordable Housing Growth.
Washington -- Marking 13 years of continuous growth, Ginnie Mae said its Multifamily Mortgage-Backed Securities program increased by 7.4% in fiscal year 2006, from $35.3 billion to $37.8 billion.
Ginnie Mae president Robert M. Couch stressed that multifamily housing is important since affordable rental housing "is often the first step on the ladder to homeownership."
"We support affordable housing, helping people achieve homeownership and helping to maintain a strong supply of affordable rental housing. Both are necessary if American families are to have safe, decent places to live," he said.
The program was recently expanded to include rural multifamily properties (Section 538). However, Ginnie Mae said, "FHA loans are still the primary component of the multifamily program" since they consist of about 98% of all eligible FHA multifamily loans placed in Ginnie Mae securities. Ginnie Mae maintains the "efficiency as a securitization vehicle" of the multifamily program is consistently reviewed to secure it is attractive to ...
- Ginnie Mae's Multifamily Growth Adds to Affordable Housing Stock.
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- Magazine article from: Real Estate Weekly June 23, 2004 700+ words
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...loans in the form of a Ginnie Mae MBS. [ILLUSTRATION OMITTED...or lines of credit. The Ginnie Mae HECM MBS is an extension...mission to expand access to affordable housing opportunities in America, Ginnie Mae President Robert M. Couch...
- Ginnie Mae Announces Plans to Use Fedwire.
- Press release article from: PR Newswire June 5, 2000 700+ words
...information on the move of Ginnie Mae securities to Fedwire...during the summer. Ginnie Mae is a wholly-owned...mortgage markets. Ginnie Mae programs help increase the supply of affordable housing by guaranteeing securities...
Source: HighBeam Research, Ginnie Mae Contributes to Affordable Housing Growth.