GinnieMae Publishes Fiscal Year 2024 Annual Financial Report Demonstrating financial Performance and Expanding Pathways to Homeownership

GinnieMae Publishes Fiscal Year 2024 Annual Financial Report Demonstrating financial Performance and Expanding Pathways to Homeownership

VoM News Desk | December 18, 2024 | 08:38 AM IST | Breaking News, World | Tags: GinnieMae, GinnieMae Fiscal Year 2024 Annual Financial Report | Follow on Google News

GinnieMae Publishes Fiscal_Year_2024 Annual_Financial_Report Demonstrating
Financial Performance and Expanding Pathways to Homeownership

Washington, D.C.—Today, GinnieMae released its Fiscal Year 2024 (FY24) 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, GinnieMae’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.

GinnieMae 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.”
Read the full FY 2024 Annual Financial Report and learn more about Ginnie Mae’s
strategic priorities, achievements, and vision for strengthening housing finance
here.

“Despite economic challenges, GinnieMae maintained strong financial health and
operational excellence,” said Chief Financial Officer Adetokunbo “Toky” Lofinmakin.
“With a business model that generates a negative subsidy, we directly contribute to U.S. Government earnings.

Key Factors as GinnieMae Publishes Fiscal_Year_2024 Annual_Financial_Report

This year’s $1.3 billion contribution underscores our value and unwavering commitment to advancing affordable homeownership nationwide.” Ginnie Mae continues to prioritize effective financial management, operational efficiency, and strategic growth—key factors in its sustained success and positive
impact on the U.S. housing finance market.

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These efforts help ensure that more Americans have meaningful opportunities to secure a home while fostering investor confidence both domestically and abroad. Ginnie Mae’s focus on governance, internal controls, and modernization continues to anchor its operations, ensuring stability and readiness to meet evolving challenges.

“For five consecutive years, GinnieMae has maintained an unmodified audit opinion—
an extraordinary achievement for a small agency managing such a large portfolio,” said Erica Johnson, Director and Audit Liaison Officer. “Our robust internal controls and modernization initiatives enable us to adapt to evolving market conditions, maintain transparency, and ensure we remain well-prepared to meet future challenges.”

About GinnieMae

GinnieMae is a wholly 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 U.S. Government.

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