Ginnie Mae, which guarantees loans to veterans and Federal Housing Administration borrowers, is changing its attitude toward credit unions.

In a change to its capital requirements, which set minimum standards for its issuers, Ginnie Mae will treat credit unions more like banks. Representatives for credit unions have sought the change since July 2021, when Ginnie Mae announced new proposed capital requirements.

State housing finance agencies, too, will be entirely exempt from the capital requirements. In an agency memo, Ginnie Mae said their “state sponsorship… enhances their counterparty standing.”

The change in approach exempts those two groups from capital requirements details ⇒

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