• MBA opposes any proposal to add fees to Ginnie Mae’s current fee or to increase the guaranty fee. Such fee increases are unnecessary and would create a disincentive to use Ginnie Mae along with the FHA and VA housing programs.
• Ginnie Mae should continue to work with MBA members, investors and dealers to refine its programs, add products and improve its MBS disclosure.
• Strong FHA and VA mortgage programs are necessary to make Ginnie Mae an effective agency. MBA has advocated for numerous improvements to the government’s mortgage loan programs to make them more available to low- and moderate-income homebuyers and renters.
• Ginnie Mae’s business is conducted through contractors and must not be dependent on the appropriations process for continuity. Business decisions and policies are executed and developed by Ginnie Mae’s permanent staff. However, its business operations and support are dependent on contractors.
• To the extent possible, Ginnie Mae should investigate new programs to enhance its ability to deliver government loans to homeowners and renters at the lowest possible interest rates.

MBA is working with Ginnie Mae on an initiative to securitize FHA’s reverse mortgages or Home Equity Conversion Mortgages (HECMs).

MBA is also working with Ginnie Mae to assist MBS issuer/servicers that could be required to conform to recently issued IRS regulations for widely held fixed investment trusts. MBA is requesting an exemption from any new reporting requirements under the rule for Ginnie Mae MBS.