NCSHA Urges House Subcommittee to Support Ginnie Mae Securitization of Risk-Sharing Loans at Hearing

On June 7, Mary Kenney, executive director of the Illinois Housing Development Authority, testified on behalf of NCSHA before the House Financial Services Subcommittee on Insurance, Housing and Community Opportunity.  Kenney’s testimony urged the Subcommittee to support NCSHA’s proposal to authorize Ginnie Mae to securitize FHA-insured multifamily loans under the FHA-HFA Risk-Sharing program. In her testimony, Kenney noted that authorizing Ginnie Mae to securitize FHA-HFA Risk-Sharing loans would make this highly successful program even more effective, efficient, and productive; achieve greater affordability within FHA-financed rental housing; increase HFA multifamily productivity while reducing FHA’s workload and risk; further utilize the well-established, state-based HFA delivery system; and generate revenue for the federal government.



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