Statement from HUD Secretary Marcia L. Fudge on the 55th Anniversary of Ginnie Mae

WASHINGTON - Today, Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development (HUD) issued the following statement to commemorate the 55th Anniversary of the Government National Mortgage Association (Ginnie Mae):

“Fifty-five years ago, the Government National Mortgage Association (Ginnie Mae) was established as an independent government corporation within the Department of Housing and Urban Development as part of a broad effort to ensure all Americans can access fair, affordable housing and mortgage lending free from discrimination.”

“Since its founding, Ginnie Mae has helped make the American Dream of equitable, affordable homeownership and rental opportunities a reality for millions of Americans. It has served as the principal financing arm for government-mortgage loan programs that serve low- and moderate-income households, first-time homebuyers, veterans, rural communities, and Tribes.”

“Ginnie Mae’s guaranty puts the full faith and credit of the United States government behind people who historically faced systemic discrimination in housing or were denied access to mortgages. Most importantly, Ginnie Mae has served as a bridge to homeownership for first-time homebuyers and others who have faced barriers to its powerful wealth-building opportunities.”

“Today we recognize the tremendous contributions of Ginnie Mae and commit to continuing to work together to build a more equitable housing finance system that makes access to safe, secure, and fair housing possible for all.”

On July 28, 2023, Secretary Fudge joined Ginnie Mae President Alanna McCargo to ring the closing bell of the New York Stock Exchange in commemoration of the occasion.