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.

NCSHA

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s