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Ginnie Mae president says agency is working to expand platform access for community lenders

Ginnie Mae · May 3, 2024
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Summary

The president of Ginnie Mae told a Denver audience that the agency is working with Federal Home Loan Banks and a task force to let community-based lenders, including CDFIs, access Ginnie Mae's guarantee platform; no formal action or vote was recorded.

The president of Ginnie Mae said in Denver that the agency is working with Federal Home Loan Banks and other partners to broaden access to Ginnie Mae's guarantee platform for community lenders, including community development financial institutions (CDFIs).

"I have the honor and privilege of being the president of Ginnie Mae," the Ginnie Mae president said, adding that Ginnie Mae is "a government corporation that supports and sustains financing for and affordable housing for millions of Americans." She said the agency is exploring ways to "aggregate" access so that community-based lenders and CDFIs can use the platform through a task force effort.

The remarks were delivered from the HUD Regional and Colorado field office in Denver, where she acknowledged the local team supporting the initiative. She described the work as collaborative, saying Ginnie Mae is "doing some work with the Federal Home Loan Banks and some others to figure out ways to have maybe aggregate to get community-based lenders, CDFIs and others ... access to the platform." The president framed the effort as part of Ginnie Mae's broader mission to sustain financing for affordable housing.

She also made brief comments on leadership, saying that "leading authentically ... is not easy" and expressing appreciation for the team at the regional office. The remarks were introductory and descriptive; the transcript records no formal motion, vote, or regulatory change during this exchange.

Next steps were not specified in the remarks beyond the ongoing task force work. The president did not name specific timelines, funding amounts, or which FHLBanks or other partners would participate, and no formal commitments or votes were recorded at the event.