Ginnie Mae released its fiscal year 2024 Annual Financial Report, highlighting its financial results and demonstrating extraordinary performance in strengthening the U.S. housing finance market to ensure more Americans have meaningful opportunities to achieve homeownership.
During FY24, Ginnie Mae’s mortgage-backed securities (MBS) program supported 1.2 million households nationwide — including servicemembers, veterans, and first-time homebuyers — from urban centers to rural and tribal communities. The MBS gross annual issuance totaled $423.4 billion, increasing Ginnie Mae’s outstanding portfolio to a record $2.64 trillion.
This performance generated $3.1 billion in results of operations, including a $1.3 billion contribution to the U.S. Government.“Once again, our fiscal year results demonstrate Ginnie Mae’s ability to provide consistent access to affordable credit throughout all market cycles while delivering value to taxpayers,” said Gregory Keith, senior vice president and chief risk officer. “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. Perhaps more amazing is that Ginnie Mae accomplishes this mission with fewer than 300 employees.”
James Wright Jr. is the D.C. political reporter for the Washington Informer Newspaper. He has worked for the Washington AFRO-American Newspaper as a reporter, city editor and freelance writer and The Washington…
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Source: Washington Informer
