What you might have heard about Ginnie Mae is simply rumor, according to Joe Gormley, the government-owned company’s executive vice president and chief operating officer. Gormley says that Ginnie Mae has adequate staffing to fulfill its mission, has no plans to shrink the size of issuers and furthermore is happily accepting new issuers.

In a conversation on Monday with Pete Mills of the Mortgage Bankers Association at the MBA’s Secondary & Capital Markets Conference, Gormley outlined his priorities at Ginnie Mae and answered questions about its oversight of a vast $2.73 trillion portfolio of mortgage-backed securities.

When asked about details ⇒

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