A Lapse in Appropriation Will Not Impact Ginnie Mae’s Core Functions

Washington, D.C.-​ Ginnie Mae plays a critical role in the secondary mortgage market, providing stability and liquidity, and maintaining the overall health of the economy. As such, Ginnie Mae will continue to perform all functions necessary to ensure that there is not a disruption in the market during a potential lapse in appropriations.

These functions include granting of commitment authority, support for continued issuance of Ginnie Mae-guaranteed Mortgage-Backed Securities (MBS) (including related PIIT pools) and Real Estate Mortgage Investment Conduits (REMICs) and taking all actions necessary to ensure timely payment of principal and interest to investors.

During a potential lapse in appropriations, single-family and multifamily loans will continue to remain eligible for securitization so long as they meet requirements for insurance/guaranty of the insuring/guaranteeing agency when they are pooled and are in the process of being insured or guaranteed.

For more information, including FAQs, see HUD's ​Contingency Plan for a Possible Lapse in Appropriations​ .

​​About G​innie Mae
Ginnie Mae is an entirely government-owned corporation that attracts global capital into the housing finance system to support homeownership for veterans and millions of homeowners throughout the country. Ginnie Mae mortgage-backed security (MBS) programs directly support housing finance programs administered by the Federal Housing Administration, the U.S. Department of Veterans Affairs, the U.S. Department of Housing and Urban Development's Office of Public and Indian Housing, and the U.S. Department of Agriculture's Rural Housing Service. Ginnie Mae is the only MBS to carry the explicit full faith and credit of the United States Government.​ ​Additional information about Ginnie Mae is available at www.ginniemae.gov and on Twitter, YouTube, Facebook,and LinkedIn.