Ginnie Mae’s mortgage-backed securities portfolio has reached a record level. Just four years after Ginnie’s portfolio reached $1 trillion, the corporation’s portfolio now stands at more than $1.5 trillion.
That marks an extraordinarily rapid growth, considering that it took 42 years — from the corporation’s founding in 1968 to 2010 — to reach $1 trillion in unpaid principal balance.
Ginnie Mae President Ted Tozer said that the rapid growth demonstrates the effectiveness of Ginnie’s “unique” business model. “Our role is critical because our unique business model – a public/private partnership – provides a safe, effective and government-backed channel for the flow of capital for U.S. mortgages, significantly limiting risks to the taxpayer and providing much needed capital for the government,” Tozer said.