The Community Home Lenders of America urged lawmakers to increase funding for the FHA and Ginnie Mae to continue supporting first-time homebuyers amidst rising housing challenges.
High home prices and interest rates make access to affordable home loans critical; the FHA and Ginnie Mae must be adequately resourced to assist first-time homebuyers.
Despite a $13 million gap in funding between House and Senate approvals, the projected profits for Ginnie Mae in fiscal year 2025 are nearly $1.4 billion.
Maintaining Ginnie Mae’s capability to market securities and oversee issuing companies is vital for sustaining its core mission and supporting the mortgage market.
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