Gregory Keith, Ginnie Mae's senior vice president, highlighted the organization's impactful role stating, "In generating $3.1 billion net financial impact, including supporting 1.2 million households, Ginnie Mae proved how impactful our business can be in strengthening the housing finance market while generating superior financial results." This reinforces the importance of Ginnie Mae in providing affordable credit access and delivering value to taxpayers.
Chief financial officer Adetokunbo Toky Lofinmakin underscored the financial success of Ginnie Mae, noting, "With a business model that generates a negative subsidy, we directly contribute to U.S. government earnings... our $1.3 billion contribution underscores our value and unwavering commitment to advancing affordable homeownership nationwide."
During FY24, Ginnie Mae's mortgage-backed securities program supported 1.2 million households, achieving a gross annual issuance of $423.4 billion, which raised their outstanding portfolio to a record $2.64 trillion, reflecting substantial operational success.
Sam Valverde, acting president of Ginnie Mae, asserted the organization's dedication to homeownership, emphasizing that their accomplishments with less than 300 employees showcase their efficiency and commitment to serving American household needs.
#ginnie-mae #mortgage-backed-securities #affordable-homeownership #fiscal-year-2024 #government-impact
Collection
[
|
...
]